Only Two ASIC Bitcoin Mining Machines Are Still Profitable Today, Ebang And ASICminer 8
Only Two ASIC Bitcoin Mining Machines Are Still Profitable Today
Crypto has been suffering from a market crash that has been affecting miners a lot. Amid the crash and the bear market, miners are the ones suffering the most as they have spent a lot of money on hardware to mine Bitcoin and most of the machines are now unprofitable.
According to data published on ASICMinerValue.com (AMV), which gathers real-time data of how profitable mining is for Application-Specific Integrated Circuits (ASIC) mining chips, only two machines which use the SHA-256 algorithm of Bitcoin are still profitable.
The site is updated every minute and it calculates the profit for each specific mining rig considering the network difficulty, block rewards and current power costs around the whole world, as well as, obviously, the prices in the crypto market.
SHA-256 is currently used to mine both the original Bitcoin (BTC) and Bitcoin Cash (BCH). Both models which are still making a profit were released in October 2018. Their profits are $0.58 and $0.21 USD daily.
The most profitable machine of the two is called Ebit 11++ and it was released by Ebang Communication, a Chinese mining hardware manufacturer. At the moment, you can buy this rig for about $2,000 USD.
The other one is the ASICminer 8 Nano 44TH. Innosilicon T3 43T stands behind without being profitable nor giving any kind of losses to the user. Bitmain’s best model, the Bitmain Antmienr S15, is a loss of $0.06 USD daily.
This can be considered part of the reason why Bitmain is shutting down its Israel central and firing all the employees, as the situation is very tough for the company.
A Market For The Big Ones
This basically means that the market will become largely centralized now. If only very costly models are still being profitable for new users, now only the big companies that have cheap electricity will still be able to profit from Bitcoin mining. This can be a huge problem for the decentralization of Bitcoin and make only a handful of people continue to be miners.
The Bitcoin prices will probably go up again sometime (at least that is what everybody expects), but this damage to the decentralization can be lasting if these miners which are still surviving are able to keep their power later.