While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. Because of the price, older generation mining machines manufactured four years ago with processing speeds greater than 8 Terahash per Second (TH/s) can now make a daily income mining crypto assets.
Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs
On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data.
In addition to BTC’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices have also propelled its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0.001 EH/s. Ethereum’s hashrate has already reached an ATH and has continued to soar higher, capturing new records.
It’s worth it for miners to mine ether in comparison to BTC, as ETH is the third most profitable network to mine. The Innosilicon A11 Pro, which produces 1,500 megahashes per second (MH/s), or 0.0015 THB/s, is the most profitable ether-mining rig. It can make $109.29 per daily. The profit estimate stems from asicminervalue.com using today’s ether exchange rates and $0.12 per kilowatt-hour (kWh) in electric consumption.
Using Today’s Exchange Rates, Top 3 Bitcoin Miners Make $36 per Day — Bitcoin Miners Manufactured Over 4 Years Ago Still Profit
The profits for the ether mining rigs are larger than BTC’s mining profits stemming from the most profitable application-specific integrated circuit (ASIC) mining devices. Three SHA256 compatible miners on the market today, however, can command $36 per day in profits using $0.12 per kWh in electric consumption and today’s BTC prices.
The Microbt Whatsminer M30S++, the Ipollo B2, and the Bitmain Antminer S19 Pro are today’s most profitable BTC miners on the market, according to stats from asicminervalue.com. Each model boasts hash speeds exceeding 100 TH/s. The Canaan Avalonminer 1246 which boasts 90 TH/s produces an estimated $27.55 per day using today’s exchange rates. Old school miners are also making a profit, even though they may not be the most profitable mining machines.
For instance, using $0.12 per kWh in electricity per day and today’s BTC prices, a Bitmain Antminer R4 (8.7 TH/s) can get at least $1.18 per day. With electrical rates of $0.12/kWh, the R4 mining machine was made in 2017. The Bitmain Antminer S9 (11 TH/s) is a popular older model that can earn up to $1.53 per daily.
What do you think about the recent mining action and Bitcoin’s hashrate climbing to 184 exahash per second? Please comment below to let us know your thoughts on this topic.
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