Bitcoin.com reports that the significant gains over the past few weeks and months have led to turn in fortunes for some beleaguered sections of the Bitcoin mining industry.
Since the back-to-back surges in price, Bitcoin has seen more its value more than double since January, and mining operations have been feeling its effect, securing better profits with their newly-minted Bitcoin. What’s more, even older rigs, switched off during the crypto winter, are now seeing a fresh lease of life as miners are finally back in the black.
Specifically, SHA-256 miners (the algorithm used to secure Bitcoin) are now doing quite well, with those mining at an average cost of USD 0.10 per Kwh of electricity now able to clear more than USD 10-15 per unit every day.
Next-generation mining devices such as the Asicminer Pro (76TH/s), Antminer S17 (56TH/s), Innosilicon T3 (52TH/s), and the Bitfury Tardis (80TH/s) lead the line, and can even squeeze out more juice if located in China where electricity is at USD 0.04 per KWh, reportedly pulling in up to USD 21 every day.
The cheap price of power in China also means that many mining rig vendors are still able to sell older devices at second-hand prices.
Mining rig vendor Zhang Xilin told Chinese media company 8BTC that second hand rigs have doubled in price, with older devices like the Antminer S9s still able to give miners USD 0.25-0.50 per unit at a cost of USD 0.13 per KWh even if mining in Europe.
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