BTC’s Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

BTC"s Price Rise Gives 5-Year-Old Mining Rigs New Life — Bitcoin Hashrate Jumps Close to 20% Since Last Week

As bitcoin’s value has increased, the global hashrate has been steadily climbing higher week after week. On Sunday, the hashrate dedicated to the Bitcoin network is hovering just above the 155 exahash (EH/s) handle and bitcoin’s price has made a great number of mining rigs more profitable. Older generation mining rigs like Bitmain’s Antminer S9 series with hashrate speeds around 11 TH/s or higher are also profiting. Bitcoin Hashrate Climbs, Mining Rigs Gather Higher Profits

Six days ago, Bitcoin’s overall hashpower was around 130 exahash per second (EH/s) and today it’s up 19.23% at 155 EH/s. Bitcoin (BTC) markets have been doing well this week up 15.9% during the last seven days. On Sunday, a single BTC is exchanging hands for just above the $55K zone and there’s $35.2 billion in global trade volume.

The higher price per BTC has made it so mining rigs are more profitable than they once were a few weeks ago in September. Using today’s BTC difficulty and electrical costs of around $0.12 per kilowatt-hour (kWh), the Microbt Whatsminer M30S++ is pulling in over $34 a day per machine. The M30S++ is powerful, of course, as each Microbt machine boasts 112 terahash per second (TH/s).

The Bitmain Antminer S19 Pro (110 TH/s) also makes over $34 per day with the next-generation miner’s output. The Canaan Avalonminer 1246 boasts around 90 TH/s in hashrate and estimates show it can make $25.88 per day using today’s BTC exchange rates. The Strongu Hornbill H8 Pro shows it produces 84 TH/s and profits by $23.67 per day using current exchange rates. Older Bitcoin Mining Machines With 11 TH/S or More Can Get $0.39 per Day

Older units like the Ebang Ebit E11++ (44 TH/s) and the Innosilicon T3 (43 TH/s) pull in anywhere between $11.02 to $11.77 per day in profit. The lowest hashpower producing bitcoin mining machine is the Bitmain Antminer T9 (11.5 TH/s) which can get a miner around $0.39 per day.

Every single Bitmain Antminer S9 series also makes a profit, producing anywhere between $0.84 per day and $2.00 per day, depending on the S9 model. There haven’t been any new launches in recent times, except for a new mining rig manufacturer from Singapore called Ipollo.

The Ipollo bitcoin miner called the B2 claims to produce 110 TH/s and pulls 3,250 watts from the wall. The mining rig’s current profit is $34.31 per day but the machine just came out this month. This means that the new company’s devices have not been out for that long and reviews are lackluster and sparse so far.

On Sunday, the mining operation F2pool commands the most hashrate with 26.59 EH/s or 18.69% of the global network. F2pool is followed by Antpool (20.94 EH/s), Poolin (20.94 EH/s), Foundry USA (17.28 EH/s), and Viabtc (14.96 EH/s). Unknown hashrate or stealth miners capture 2.10% of the global hashrate and the 2.99 EH/s puts the mystery hash in the ninth position.

The current mining difficulty is 19.89 trillion and in eight days it is expected to increase by 1.58%. This increase will put BTC’s mining difficulty back above the 20 trillion range making it close to 40% harder to mine BTC than three months ago.

What do you think about mining machines gathering higher profits and the older generation mining rigs that can now gain profit? Let us know what you think about this subject in the comments section below. Abkhazia Extends Internet Restrictions for Cryptocurrency Miners MINING | 2 days ago Lawmakers in Kazakhstan Propose Registration for Crypto Farms, Higher Electricity Rate for Miners MINING | 3 days ago Tags in this story Antminer, Antminer S9, Antpool, Bitcoin mining, Bitmain, BTC Mining, Canaan, Canaan Avalonminer, Ebang, F2Pool, Foundry USA, Innosilicon, M30S++, Microbt, mining rigs, S9, S9 Series, Whatsminer

Image Credits: Shutterstock, Pixabay, Wiki Commons, asicminervalue.com, Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments