https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News
Bitcoin
$32,317.13
+562.18
Ethereum
$1,327.13
+106.72
Litecoin
$139.02
+0.67
DigitalCash
$108.13
+3.68
Monero
$139.45
+1.66
Nxt
$0.01
-0
Ethereum Classic
$7.55
+0.18
Dogecoin
$0.01
0

Bitcoin mining: legendary S9 is passing away

11
, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News


, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News

The value of Bitcoin mining equipment decreases over time due to multiple factors. Among them, you can take into account the Halvings, and the increased difficulty of the network. The most notable case is that of the legendary S9, which is entering the phase of obsolescence.

Currently, this mining manufacturer Bitmain, has decreased in value to limits unthinkable a couple of years ago. When it came on the market, these kits SO CThey were worth almost $ 3,000. Now miners are unwilling to pay high prices for equipment that is no longer profitable in most countries.

Factors such as the cost of electricity have been key to accelerate the decrease in its profitability. But the speed in which this ASIC became obsolete, increased after the third Halving of Bitcoin on May 11, which made the S9 become an electrical cost for Bitcoin mining centers.

Halving’s impact

Halving is one of the most notable events in Bitcoin mining. In it, the Blockchain network reward of this cryptocurrency per block mined, is cut in half. This happens due to the limited amount of existing BTC, in response to which, the network is programmed to decrease emissions and extend mining until 2,140.

To date, the Bitcoin network has experienced three Halvings, (2012, 2016 and 2020), in which the reward was decreased from 50 BTC per mined block to 25, 12.5 and 6.25, respectively.

The market launch of Antminer S9It was in 2018 and, due to the low difficulty of mining and its efficiency at that time, they projected its value at about $ 3,000 per unit. Currently this Bitcoin mining equipment costs less than $ 60.

In Latin America, some merchant companies offer the equipment at a price that ranges from $ 100 to $ 200. However, its sales have decreased dramatically because in many countries, the electrical cost is higher than the profits it generates.

Other Bitcoin mining equipment, such as the S17 and T17, launched last year for sales, while still profitable, are beginning to walk the same path of discontinuity in a more accelerated process than that of the S9 itself.

, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News
The price of the legendary Bitcoin mining ASIC S9 has been reduced by more than 98%. Source: Hashrateindex.com

For Bitcoin mining, the legendary S9 is a burden

After the mentioned four-year cut (Halving), the S9 stopped generating approximately $ 65, and now reports between $ 30 and $ 35 (0.00100000 BTC every 8 or 9 days depending on the difficulty of the network). In countries where the electricity bill for the consumption of 2,370W is about $ 2 a day, the team gives a negative balance for those who engage in Bitcoin mining.

The drop in Bitcoin’s Hash Rate after Halving was precisely due to the massive disconnection of S9 equipment. There are exceptions, where this ASIC remains profitable. Such is the case of some provinces of China, which now go through the full rainy season and hydroelectric power is low.

By the end of the rainy season in Sichuan, China, further disconnections are expected. The other case is Venezuela, where free electricity allows the S9 generated to report a 100% profit. In that country, sales of this hardware remain stable.

Miners seek efficiency

The current competition in the Bitcoin mining equipment sales market is in the field of efficiency. As we have explained in CryptoTrend, the main manufacturers of ASIC are putting on sale models of low consumption and high hash rate.

Efficiency is measured by the W / T formula. According to this, at lower consumption W and higher T, the efficiency is high. Conversely, a high W relative to T indicates low efficiency.

According to a recent report by BitMEX, the current efficiency champions, Bitmain and MicroBTC, with their S19 and T19 models on the one hand and M30S + on the other, are highly valued in the sales market due to their low power consumption and high hash rate.

It should be noted that, to the same extent that manufacturers bring more efficient equipment to the market, the consumption of Bitcoin mining becomes more friendly to the environment.

Data to consider

  • MicroBT’s WhatsMiner M30S + miner, with a hashrate of 100T, has an efficiency of 34.00 j / TH. For its part, the Antminer S9 SE 16T, has an efficiency level of 80.00 j / TH.
  • Of the four ASIC manufacturing giants, MicroBT and Bitmain, they dominate the market with more efficient equipment.
  • For those who engage in Bitcoin mining, the legendary S9 has become a headache due to its poor performance.
  • The Antminer S9 was released to the sales market in 2018 and its value was approximately $ 3,000.
  • Since Halving, S9 reports earnings of 0.00100000 every 8 or 9 days depending on the level of difficulty of the network.
  • Other equipment such as Bitmain’s S17 and T17, has suffered a decrease in its prices due to Halving.

Reliable sources

The information in this content has been extracted from reliable sources detailed below:

1-Professional handling of content by the authors of CryptoTendency.
2-External sources: Hashrateindex.com, blog.bitmex.com.



, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Bitcoin mining: legendary S9 is passing away, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More