There has been a slew of bitcoin mining rigs announced during the last 12 months that claim to process more TH/s while consuming less energy. With the struggles of Bitcoin and the cryptocurrency market crash, even the latest launched mining machines are not enough and are now having trouble to stay profitable.
According to real-time data from ASICMinerValue.com, which is a site that calculates the real-time profitability rates for Application-Specific Integrated Circuit (ASIC) chips, and is updated every minute, calculating profit yields for specific miners based on power costs, network difficulty, block rewards, and cryptocurrency prices, most of the mining machines are having struggle to remain profitable.
Many coins with the SHA-256 mining algorithm such as bitcoin cash (BCH), bitcoin core (BTC), and peercoin (PPC) have lost considerable value. Because cryptocurrency prices are so low, many mining devices announced this year are failing to bring a profit and some machines cannot be purchased on the open market.
Only two mining machines that mine coins based on the hash function “SHA-256” are currently making a profit. Both of these models were released in October 2018 and while Ebang Ebit E11++ shows 0.58 dollars in profit, ASICminer 8 Nano 44Th only shows 0.21 dollars in profit per day.
The most profitable machine out there right now, the Ebit 11++, was released by Ebang Communication and is currently priced at 2024 dollars.
Many other machines that were announced this year are not showing profits and consume more energy cost if the companies continue to operate them. GMO’s B2 and B3, which boast 24-33TH/s, can lose between 1.90-4.98 dollars per day at current BTC prices. The infamous Halong Mining Dragonmint T1 model sees a loss of around 1.87 dollars per day.