Bitcoin’s Brutal Dip: Only 5 Mining Machines Still Profitable as Market Tumbles

As Bitcoin dips below the $55,000 mark, the implications for cryptocurrency mining are quite significant, raising concerns across the industry. Particularly, the recent drop in Bitcoin’s value has pushed the operational viability of many mining machines to their limits.

A report from F2Pool, a leading Bitcoin mining pool, highlights that of the many mining machines on the market, only a handful remain profitable under the current economic conditions.

Adjusting to New Realities: Market Conditions Strain Miners

F2Pool’s analysis reveals that just five ASIC (Application-Specific Integrated Circuits) models can still profit at the current Bitcoin price levels. These include the Antminer S21 Hydro, Antminer S21, Avalon A1466I, Antminer S19 XP Hydro, and Antminer S19 XP.

These machines have break-even points ranging from $39,581 to $53,187, making them the last bastions of profitability in the ongoing price dip.

On the other hand, models like the Whatsminer M56S++ hover just at the brink, with a break-even price dangerously close to the current BTC price, emphasizing the narrow margins within which miners are operating.

With #Bitcoin trading below $58k, what is the current profitability for mining?

At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss.

For more details on mainstream miners, please refer to the table below. pic.twitter.com/hJS1lsVnmK

— f2pool Read More