#Mining 📉 Cryptocurrency or just a “cold shower”? Miners are going into the red in droves
The latest data from Antpool paints a disturbing picture for the mining industry. The fall in the price of
$BTC to $75,000 - $78,500 has put most equipment on the verge of survival. Briefly about the main things:
⛏ Who else is “in the red”?
Currently, only the latest models of the Antminer S23 series, which began to be delivered only this month, are making a profit.
• Antminer S23 Hydro: market leader with an income of about $18.53 per day.
• Antminer S21: barely staying “above water” with a meager $0.12 profit per day.
🚩 Who is already in the red?
Most popular models, including the Whatsminer M6 series, are already operating at a loss. For example, the Whatsminer M63S is currently losing about $0.47 per day.
❓ Why is this happening?
1. Price spike: The fall in the
$BTC exchange rate directly proportionally cuts revenues in dollar terms.
2. Abnormal hashrate: Despite the cold weather in the USA and the shutdown of some capacities, the total network complexity remains near historical highs (927.7 EH/s). Competition for a block is fierce.
3. Energy factor: Electricity costs are becoming unaffordable for older generations of devices.
🚀 Where are miners fleeing to?
In order not to go bankrupt, large players (MARA, HIVE) are actively diversifying their business, reorienting their capacities to HPC (high-performance computing) and AI. It seems that the future of large data centers is now not only in crypto.