The sixth largest mining pool in the world told …
The sixth largest mining pool in the world told at what prices you can turn off miners
Over the past 2 days, the cryptocurrency market has undergone a significant correction, as a result of which Bitcoin returned to the $ 6,500 level, and Ethereum updated its annual low below $ 250.
The hash rate of the bitcoin network has been growing throughout 2018, which cannot be said about the price of the cryptocurrency, and only in recent days has dropped from its recent all-time high of 62EH / s to the current 49.54EH / s, according to Blockchain.com..
Thus, the continued growth of the hash rate, complemented by the decline in the prices of crypto assets, once again forces to raise the question of when cryptocurrency miners will abandon their important function of ensuring the security of the blockchain..
The co-founder of the sixth largest mining pool in the world, F2Pool, posted an image on the network that shows the prices of cryptocurrencies in the context of various mining devices, upon reaching which their owners can turn off their equipment, because this activity will become unprofitable.
“It is impossible to turn off the miners,” 8btc quotes the translation of his commentary from Chinese.
The calculation was made taking into account the complexity of mining as of September 6 and the electricity price of 0.45 yuan (4.55 rubles) per kWh. Thus, the cost of mining one bitcoin on an Antminer S9 device is 30,262 yuan ($ 4,424).
As you would expect, for older, less energy efficient devices such as the Antminer S7 and Avalon A741, the limit is even higher. Thus, the production of one bitcoin on S7, according to the calculations of the co-founder of F2Pool, is 79,258 yuan ($ 11,594), which is almost 2 times higher than the current value of bitcoin.
According to the data presented, the T2 miner ($ 3,896) is the best at mining bitcoin. It is followed by the Avalon A841 and Antminer S9. In addition, in the context of current cryptocurrency prices, miners who are trying to mine Siacoin on A3, Dash on D3 and BTM on B3 are doing it at a loss..
However, Chinese users who left their comments under the original post were not discouraged by such findings. “I will never turn off my miners,” writes one of them. “Received. Bitcoin may drop another 20,000 yuan, ”adds another.
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