December 5, 2022

At what price is Bitcoin mining profitable: break-even point

At what price is Bitcoin mining profitable: break-even point

In recent days, the price of bitcoin has shown strong volatility, which has led to a decrease in hashrate network at 20%. This suggests an outflow of miners due to the incipient losses, which has happened more than once.

We decided to investigate where the breakeven points of mining are located on the most popular devices and how they correlate with the price:

At what price is Bitcoin mining profitable: break-even point

One of the most famous and commonThe ASIC miners in the world, Asic S9, have the worst break-even rates: in order to profit from this device, it is necessary that the price of bitcoin be higher than $ 7.643.

“Leader in terms of profitability for the currentmoment, is Asic S17 from Bitmain. It will generate profits until the rate drops below $ 3,598. The second and third most profitable companies are Innosilicon T3 + 67 and Avalon 1166, the break-even point of which is $ 3,970 and $ 4,299, respectively. These are the flagship models for the largest mining companies in the world. ”, Says Alexander Panasetskiy, CEO of the Cryptoreactor mining hotel.

If you look closely at the bitcoin chart, you canfind a clear relationship between the breakeven levels and the price of bitcoin. Thus, the level of $ 7,500 has been a key support area for the main cryptocurrency over the past 6 months, and it was at this level that Asic S9 had zero profitability.

It could be a coincidence if earlier weno longer observed how clearly Bitcoin walks on these levels. Just recall the situation a year ago, when Bitcoin was trading at around $ 3,200 - $ 3,500. At that time, the break-even level of the best mining devices was near $ 3,000. And as history has shown, Bitcoin has not dropped below this level.

A large number of matches indicates a clearpattern. Therefore, it is worth paying attention to the following two levels: $ 4,000 and $ 4,500. It may well be that Bitcoin will come to these very marks, and perhaps this will be the very bottom from which new explosive growth will be expected from us.

What will be the breakeven point for bitcoin mining in Russia and what income can you expect? Let's calculate:

  • Take the best model in terms of price / quality ratio Asic T17 with a capacity of 42 TH / s. Currently, its value on the Bitmain website is $ 952.
  • The lowest price for electricity that we were able to find in Russia is 2.7 rubles per kWh
  • The cost of renting the room where the miner will be located is $ 15 / month
  • Bitcoin price is $ 7.315
  • Hashrate 95 exams per second
  • Mining pool commission 1%

Given all the above indicators, pointmining break-even for this model is at a bitcoin price of $ 3,455. Thus, due to cheaper electricity than in China, the profitability of mining in Russia is at a higher level. However, it is worth saying that the tariff of 2.7 rubles per kilowatt per hour, is observed mainly in southern Siberia.

Under these conditions, the average income will be about $ 3.5 per day or $ 92 per month. As a result, the miner's return on payback will be 10 months, taking into account all overhead costs.

Theoretically, if you do not put the miner onrented area, it would be possible to reduce the payback period to 8 months. However, in practice this is not so, since in this case you will have to pay a full tariff, which averages from 3 to 3.5 rubles per kWh. As a result, the payback period will not only not decrease, but even increase, says Panasetskiy.

As a result of these calculations, it becomes clear that evennot the most advanced miner can show excellent profitability in the Russian Federation. Therefore, the choice is yours - consider, think, which option is profitable for you, and if you have long wanted to start mining, feel free to try your hand at this business. Mining is still profitable.