Bitcoin Mining Profitability Surges With Record Daily Earnings
The world of Bitcoin mining is experiencing a surge in profitability, with miners raking up USD 76 in daily earnings for every petahash per second (PH/s) as of November 5. A mining device operating at 200 terahash per second (TH/s) with electricity costs at USD 0.07 per kilowatt-hour (kWh) can potentially generate USD 14.12 in profits over a single day at prevailing Bitcoin exchange rates.
Miners Eye Lucrative Returns from Bitcoin and Kaspa Mining
According to hashrateindex.com, Bitcoin's seven-day average hash rate has skyrocketed to an impressive 474 exahash per second (EH/s). If each miner is operating at 200 TH/s, that translates to an incredible 2.37 million with such mining devices currently in operation.
However, it's important to note that not all mining rigs maintain a consistent 200 TH/s output. The actual outputs can vary significantly depending on the model in use. Some models yield lower output, while others can exceed 200 TH/s.
An example is the S9 Antminer, a veteran in the field since its debut in May 2016, running at 12.93 TH/s. This vintage model can still generate a modest daily profit of USD 0.91 while keeping electricity costs at USD 0.07 per kWh, based on the current BTC exchange rates.
On the other hand, the more advanced and hydro-cooled Microbt M63S, with a range of 360 to 390 TH/s, can generate impressive profits ranging from USD 25.41 at the lower end of its capacity. But unless you are into serious mining operations, the latest Microbt M63S may be out of reach until the coming year. Similarly, Bitmain's latest offering, the S21 Hyd, flaunting a hashing power of 335 TH/s, is not likely to be available before February 2024.
While a 335 TH/s hash rate may currently generate USD 23 in daily earnings, the future return on profit cannot be certain given the release date. Meanwhile, two models that have managed to hold the market for a while are Bitmain's Antminer S19 XP Hyd, boasting 255 TH/s, and Microbt's hydro-cooled M53S++, offering 320 TH/s.
Bitcoin Miners See USD 76 Daily Profits, While Kaspa Miners Lead with USD 156
As per current statistics from minerstat.com, the S19 XP Hyd can bring in a daily profit of USD 18, while the M53S++ can achieve USD 22.59. Bitcoin miners who dedicate their computational power to mining are reaping rewards. But intriguingly, those mining the digital currency Kaspa (KAS), utilizing the Kheavyhash algorithm, are at the top of the profitability charts today.
A Bitmain Antminer KS3, with a hashrate of 9.4 TH/s or 9,400,000 megahash per second (MH/s), is estimated to earn an estimated USD 156 in profits per day. While adding the electricity costs of USD 0.07 per kWh, miners can manage to earn approximately USD 16 for every terahash of effort expended each day.
What's your take on these exciting developments in the crypto-mining world? Please share your thoughts and opinions in the comments section below.
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