Hey everyone, I'm putting up my Antminer S 19 XP 134TH for sale. I’ve lost my access to affordable electricity, and I’m thinking about using the money from the sale to grab some BTC. With around $4000, what miner could be a better investment? Or should I just throw that cash into bitcoin instead?
I think that's the only miner that is currently the most profitable according to Whattomine with $0.1/Kwh.
For now, I can't suggest if it's better to buy Bitcoin to hold it for a long time or Stay mining since you said you lost access to cheap electricity it won't make any profit but still depends on how expensive your current electricity rate is.
Do you mind telling us the current electricity rate in your area?
If it's too expensive or above $0.13 per Kwh then it won't make any profit.
You can also hold the miner and wait for this machine's price to increase in value to resell them at a high price or hold the unit for a few months until we see the price of Bitcoin rise again until mining with this unit is profitable again.
I had the opportunity to receive electricity for about 0.1 per kilowatt, but now the price has increased to about 0.4(high prices in europe ) Yes, I will sell for $4k if anybody interested. Contact me direct to email linked in selling topic if interested.
That's the best decision OP, there is no solution to Bitcoin mining if your electricity is not cheap, also Antminer S19 XP is the best Asic miner for Bitcoin mining I don't think there is a better one yet, if Bitcoin was still 15,000$ it would have be better to sell your Asic and buy Bitcoin for long term hold. There is possibility that we could go below 20,000$ again but that's your decision to make.
Well, in your ad there is an opportunity to buy for bitcoin, so this sale would be the best deal, given your desire to invest money in bitcoin, I think that you will be able to be in greater profit in the future.
I suggest you to invest in bitcoin for taking much high returns without any trouble of electricity and other miner maintenance ,
Because in this bear season we have a discounted market prices upto 80% off , So fill you wallet with BTC and 20% alts and just relax for one or two years for multiply your money by 4x or higher .
It is a good idea to invest in Bitcoin and hold it for long term, as it has yielded high returns, as evidenced by its historical performance. However, for those who are interested to generate passive income through mining Bitcoin, it may be a viable option only if certain conditions are met such as living in a region with low electricity costs or having a personal solar system to power the mining setup. Additionally, it's important to consider that mining requires a significant upfront investment in equipment and requires a consistently cool environment to operate efficiently, which may not be feasible in some locations.
It's over then, no cheap electricity means no more reason to keep mining, by the way that's a good Asic miner you have there, people are still buying it unlike the old Antminer S9 that is no more profitable to run, if I am in your shoe right now I will sell the Asic miner and start buying Bitcoin very slowly, the price has gone up right now but a pull back is always possible.
Agreed, profitability of Miner mainly depends on electricity cost , which is higher in many countries due to higher oil price, as many countries generate electricity from fossil oil, in such situation it makes sense to sell your ASIC miner, if it is no longer profitable. As far as buying Bitcoin is concerned, it is important to consider market conditions & accumulate Bitcoin by using( DCA (Dollar cost-average) strategy. This can help to mitigate the risk of buying at a high price & minimize the impact of market dips.
The worst thing to do is invest in mining equipment when you think this is the bottom just to sell it later on, the price appreciation on mining gears is a lot lower than on the coin itself, due to the following reason.
1- Difficulty rises, the profitability doesn't increase proportionally with price, and thus the miner's value doesn't too.
2- The miner loses value due to the efficiency race, right now his miner is one of the most efficient gears, a year later, it won't be, which makes it lose value as well.
3- The miner's age, the longer it sits there, and the more value it loses.
Of course, this changes if it's a matter of selling the miner and keeping the fiat, assuming this is the bottom, then keeping the miner will outperform keeping cash, but if it's the bottom then BTC > mining gear.
I think there is a huge difference between profit (eg. monthly for a while) and ROI
Like today BTC is ~22K and with current difficulty an S19J PRO 100TH will make you about $180 worth of bitcoins (-costs!).
Minus your electricity cost, let's say $120 @ 6c (not counting the place, workers, build out, etc.!).
Means $60/mo. profit.
With network doubling yearly (estimated) you will be in the red in about 10 months and your ROI will be only 14% at that time.
And halving arrives very soon after...
In my opinion all the miners are WAAAY overpriced today for most customers. My guess is that still too much VC and investor money still around and they are/will be screwed.
IMHO:
S19XP would worth max 2K today not 4K
JPRO 100TH maybe around 1K
Even 1K is questionable as the machine will only make you about $500 until the halving.
It all depends individually on what goals you pursue, passive income, or earn as much money as possible?
If passive, then it is worth buying bitcoin, and in general and not only it, in order to diversify your earnings. If not passive, then it seems to me that mining the system is a good option, but $ 4000 is not enough of course, here you need to take the volume.
Bitcoin mining has long ceased to be mining for beginners. Equipment is expensive, electricity is also expensive in many countries, and to make money on mining, you need to be a miner, with cheap electricity and be able to buy equipment at good prices. Large miners are constantly increasing their hashrate, so I would not waste time mining with several ASICs.
Well i have seen the jpro reach 21 j/t which is about the efficiency of the XP with factory firmware, so it may not be a bad idea to swap. But yeah, without cheap electricity i guess it makes more sense to simply buy bitcoin.
One alternative could be investing for example in some solar panels and a grid tie inverter (no batteries), so at least the electricity cost will drop to half and you could maybe in the future expand in pairs, 1 miner 6 panels, or such.
Indeed, but to reach that efficiency the hashrate goes down a lot (also need some luck as not all units can reach even close).
The 100TH unit will do 80 or 70TH hence the price needs to lower again.
Volume is a myth/scam I believe. Current unit prices with current difficulty don't make financial sense even if you get sub 5c power and 1000+ units. Even volume prices are too high to make a ROI.
Well expected ROI as if bitcoin goes to a million tomorrow the calculation changes, but you would be almost better off buying bitcoin.
So in my opinion mining is distorted by large scale scams where they calculate based on today and investors are stupid enough to believe those numbers. I think I should say in past tense were stupid enough to believe and we just see the fallout/long tail today.
This is why you simply add more units. Efficiency is more important than raw TH, its what leaves more profit in the end.
From my data provided by users, lowering the chip temperature is also a key factor.
There is even a 104T jpro doing 104T at 24 J/T at vanilla 65°C.
The best is a similar 104T jpro doing 64T 20 J/T but at 38°C
So think of this like this (with the magic of buying two): 128T 2686W. (at 15/T its $1920) vs one XP 127T 2731W (at 28/T would be $3556).
See the pattern? That jpro 104T is a good buy, the 100T is decent as well.