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Machine review · Oct 20, 2026 · 5 min read
Whatsminer M63S+ review: 17 J/TH on water, and Nigeria is where it pays best
MicroBT's M63S+ is a water-cooled machine: 400 TH/s from 6,800 W, 17 J/TH, at the lowest entry price per terahash it has had. It clears its power at 6¢ today with limited room, and Nigeria's cheaper power is where its return is strongest.
MicroBT Whatsminer M63S+ (400 TH/s)
The bottom line
The M63S+ is MicroBT's water-cooled Whatsminer at 17 J/TH: 400 TH/s from 6,800 W in the bin we list. In the UAE, at 6¢, it makes a bitcoin for about $58,900 of electricity and returns roughly 30% in its first year at today's price. At Nigeria's 3.9¢ the same coin costs about $38,300 and the first year returns 38%.
Bought once its price settled, in August 2025, it has mined and kept 0.0741 BTC for $4,114 of power: $1,930 of cashflow against a $6,877 landed cost, 28% of the box so far. Between now and the 2028 halving it has another 0.077 BTC in it, worth about $9,576 with bitcoin back at its previous high: roughly 1.7× its hardware by the halving, still running afterwards.
What you are buying is a proven water-cooled machine at a settled price, and a year-one return that rises sharply on cheap power. What you are not buying is the cheapest coin: the M63S++ makes one for about $51,900 and the S21+ Hyd for about $52,200 in the same room, against this machine's $58,900.
Scores
| Criterion | Score | Why |
|---|---|---|
| Cashflow | 5/10 | Makes a bitcoin for about $58,900 of electricity at 6¢ and returns roughly 30% in year one at today's price. It has covered 28% of its hardware so far and is on track for about 1.7× by the 2028 halving. The M63S++ returns about 38%. |
| Longevity | 5/10 | At 17 J/TH its line is $24.48 a petahash a day at 6¢ and $15.91 at 3.9¢. Today's hashprice halved sits between the two, so after the halving it is a Nigeria machine, which is the move every machine makes once. |
| Efficiency | 4.5/10 | Mid-table among water-cooled machines we stock: the M63S++ runs 15 J/TH, the S21j XP Hyd 12 and the S23 Hyd 9.5. |
| Quality control | 5/10 | Scored as unknown rather than as good. We found no operator reports of the M63S+ in the field that we could cite. |
| Serviceability | 6.5/10 | Water-cooled, so it lives in the UAE, where a manufacturer warranty centre is close to the facility and an in-warranty board goes direct. |
Weighted on what an owner gets back per dollar over the next four years. A settled entry price and a margin today carry it; 17 J/TH puts it in the middle of the water-cooled range, and a reliability record we could not find holds it back.
Buy it if
- You want hashrate on water at a low price per terahash: $7.56 for the M63S+, against $8.50 for the M63S++ and $6.93 for the S21+ Hyd.
- Your power is at or below 6¢. At 6¢ it makes a coin for about $58,900; at 3.9¢, about $38,300.
- You expect to cross to Nigeria once, when the figures say so. At 17 J/TH its line there is $15.91 a petahash a day, well under the year's lowest hashprice.
- You have, or are hosted at, a site with a coolant loop and three-phase supply.
Walk away if
- You are planning past 2028 at 6¢. Its line there is $24.48 a petahash a day, and today's hashprice halved sits below it, so those years lean on bitcoin recovering.
- You want the cheapest coin. The M63S++ returns about 38% in year one against this machine's 30%, and the S21j XP Hyd makes a coin for about $41,700.
- Your power sits between 3.9¢ and 6¢ and is not going down. Between those two lines the machine works today and goes marginal after the halving.
- You want a public failure record. We found no operator reports of the M63S+ that we could cite, and we score that as unknown.
What MicroBT shipped
The M63S+ is a water-cooled Whatsminer from MicroBT, announced in July 2024. Our store lists the 400 TH/s bin used here at 6,800 W, which is 17 J/TH, and a 398 TH/s bin at 6,766 W for the same efficiency.
Those figures are our store record: we could not open MicroBT's own product page, and retailer listings disagree on the hashrate and power of the M63S and M63S+, so we state only what the record holds. It sits above the M63S at 18.5 J/TH and below the M63S++ at 15 J/TH. The same machine has its own look-back from the UAE and Nigeria.
Priced like a settled machine
The first price we hold for the 400 TH/s unit gave a purchase of $5,502 in August 2025. It is $3,024 today, $7.56 a terahash, for the same 400 TH/s at the same 17 J/TH. The hashrate did not change; only the entry price did, and a proven machine at a settled price is what the entry looks like now.
Against its neighbours, price per terahash tells the story. The M63S++ is $8.50 a terahash at 15 J/TH. The S21+ Hyd is $6.93 at 15 J/TH. The M63S+ asks the least per terahash of the three and the most electricity per terahash, and the guide to what a miner costs all-in shows what sits on top of the box.
What a coin costs it
In the UAE, at 6¢, it makes a bitcoin for about $58,900 of electricity today, against a bitcoin price of $81,488. At Nigeria's 3.9¢ the same machine makes one for about $38,300. The M63S++ makes one in the UAE for about $51,900, and the S21+ Hyd for about $52,200.
In its first year the M63S+ returns about 30% at 6¢ and 38% in Nigeria. The M63S++ returns 38% in the UAE and 41% in Nigeria. The gap to the Nigerian figure is the point: this machine is made for cheap power.
Over its run since August 2025, electricity has averaged about $55,500 a coin. That is a lifetime average over 421 days; the figure to plan on is today's.
Where the halving puts it
A machine's line is the hashprice at which it stops covering its own power. At 17 J/TH a petahash uses 408 kWh a day: $24.48 at 6¢, and $15.91 at Nigeria's 3.9¢. On our hashprice chart, the lowest reading of the past year was $27.74 a petahash a day on 6 June 2026, so the 6¢ line sat about $3 under last June's trough, and the Nigerian line well under it.
The 2028 halving halves the coins a petahash earns. At today's price and difficulty that puts hashprice at about half of today's, between the two lines: below the 6¢ one and above the Nigerian one. That is today's conditions held flat, not a forecast: it is why every projection we publish assumes the old high returns, and the forward figures here do the same.
So the machine is a UAE machine now and a Nigeria machine after, and the move is made once. In our model of its run it crossed to Nigeria on 25 August 2026. The guide to crossing once explains why, and the guide to efficiency and halvings shows where the line sits at every J/TH.
What a fault costs you here
We looked for operator threads and repair write-ups on the M63S+ and found nothing specific to it that we could stand behind, so the reliability score is unknown rather than good or bad. A machine two years past its announcement with no public record we can cite is not a warning, and it is not a clean bill of health either.
What a fault costs is the part that matters. Hosted with us in the UAE, a manufacturer warranty centre is close to the facility, so an in-warranty unit goes direct: a failed hashboard is a line item, not a catastrophe. A water-cooled unit is serviced on a bench built for it, which is why we rack it where the plant already exists.
We found no operator reports of this machine's boards we could cite. We score that as unknown, not as good.
Our two cents
The M63S+ is a sound machine at a settled price, and a plain one. At 6¢ it clears its power today, it needs Nigeria's cheaper power after the halving, and it makes the most of that power. A buyer who wants the lowest price per terahash on water has a reason to pick it.
Most buyers chasing the cheapest coin should look one step up: the M63S++ makes it for about $51,900 in the UAE, and the figure below ranks everything that beats this machine on cost per coin and then year-one return, in stock today. A coin that costs less to make is a coin you keep more of.
- Bitmain Antminer S23 Hyd (563 TH/s) — 9.5 J/TH, In stock, $33,168 of electricity per bitcoin, 24% year one
- Bitmain Antminer S21j XP Hyd (495 TH/s) — 12 J/TH, In stock, $41,743 of electricity per bitcoin, 36% year one
- Bitdeer SealMiner A3 Pro Hyd (666 TH/s) — 12.5 J/TH, In stock, $43,076 of electricity per bitcoin, 28% year one
Which machines this covers
The other side of this machine
Bought near bitcoin's peak, the Whatsminer M63S+ cleared June's low and crossed to Nigeria — At 17 J/TH the Whatsminer M63S+ needs a hashprice near $24.50 to cover its power at 6¢, and June's low left it about $3 of room. Bought with bitcoin near $110,000, it spent a year in the UAE and has crossed to Nigeria. Here is what it has banked, and what the forward figures say.
Disclosure
Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.