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With bitcoin prices hovering above a certain handle, a large number of old ASIC mining rigs manufactured years ago are starting to return to profitability. Reports indicate that in China, where average electricity costs are about $ 0.06 per kilowatt hour (kWh), miners are starting to use old miners manufactured by Canaan, Bitmain, and others. Chinese bitcoin miners dealing with electronic component price hikes have found outdated platforms such as the Antminer S9 (10-16 TH / s) are now reaping profits again.

The price of bitcoin (BTC) makes it easier for cryptocurrency miners around the world to make a profit, especially after the recent one mining difficulty that fell more than 16%.

In addition, BTC prices rose from a closing price of $ 11,548 on October 13, 2020 and 30 days later, on November 12, the price closed at a high of $ 16,305 per coin increasing 41.19%. Regional reports from China show it to be high BTC prices between $ 12k and $ 16k have urged Chinese miners to return to using old miners.

In addition to the S9 models, older machines from Canaan Creative, Bitfury, GMO, Bitfily, Whatsminer, Halong, Ebang and Pantech also benefit at higher bitcoin prices. At the time of publication, the two 2018 Avalonminers (921 and 841) earn between $ 0.21 and $ 0.59 per day if the miner pays about $ 0.06 per kilowatt hour (kWh).

Financial columnist Vincent He recently discussed the Bitmain S9 series (10-16 TH / s), noting that the mining platform is today pulling in profits for Chinese miners. “The price increase of electronic components at the end of the year led to an improvement in the cost performance of S9,” the author noted on November 11.

Old mining platforms don’t just make a profit these days BTC prices so high, the columnist notes. Vincent also says that many mining companies are located in desert areas with a lot of dust, and some in areas such as Sichuan where the humidity is higher than average.

These effects “shorten the life of the machines,” and mining platforms such as the “S9 have a better stability ratio due to its simple structure and relatively low computing power,” the report said. report. It is estimated that the S9 miner (13 TH / s) was once used as much as these four year old machines 70% of the BTC hashrate.

About 11 Antminer S9 models manufactured by Bitmain that are anywhere from 1-4 years old show a profit between $ 0.10 and $ 0.59 at $ 0.06 per kilowatt hour (kWh) using exchange rates for BTC on Friday, November 13, 2020.

BTC prices fell on Friday 13 November and are slightly lower than the closing price the day before. But data from Asicminervalue.com indicates that a number of older mining rigs produced by Canaan, Bitmain and others benefit with an electricity tariff of $ 0.06 per kWh. Any Bitmain Antminer S9 with a hashrate between 10 and 16 terahash per second (TH / s) wins today.

A number of older generation miners retail for $ 100- $ 800 depending on the model and hashrate. Marketplaces like Ebay and Craigslist have an abundance of miners for sale from manufacturers like Canaan, Bitmain, Microbt, Ebang, and many others.

Likewise, three old Avalonminers created by Canaan also benefit, except the Avalonminer 821 and 741 series. In addition to the popular S9s and Avalonminers, legacy mining rigs from Bitfury, GMO, Bitfily, Whatsminer, Halong, Ebang, Pantech and other ASICs are also showing gains.

The older mining platforms are also seeing increased prices in second markets in the US and in Europe at marketplaces such as Ebay and Craigslist.

For example, a Whatsminer M3 with 11.5 TH / s is sold on Ebay for $ 500, while old-school Antminer sell S9s $ 100- $ 800 per unit. Not long ago when BTC prices were lower and difficulty was higher, obsolete ASICs sold for $ 50- $ 250 per unit with terahash output between 10-16 TH / s.

Vincent’s report further notes that the next generation of ASIC miners with outputs of 70 to 100 TH / s have a higher number of computer boards than older models. The compact design of older mining rigs such as the S9 series helps miners in China with warehouse space issues and reduces power consumption, the report details said.

What do you think of older generation ASICs like the Antminer S9 making a comeback? Let us know what you think about this topic in the comments below.

Tags in this story

8btc, Antminer S9, ASIC miners, Asicminervalue.com, Bitcoin, Bitcoin mining, Bitmain, BTC, Canaan, crypto mining, Cryptocurrency, mining, Mining activities, Mining Profits, mining installations, S9, Secondary markets, Vincent He, Whatsminer

Image Credits: Shutterstock, Pixabay, Wiki Commons, Ebay, Bitmain, Asicminervalue.com, Canaan,

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