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Progress report · Oct 19, 2026 · 4 min read

Nearly two years in Argentina, the SealMiner A2 still clears its power, and Nigeria is next

Bitdeer's air-cooled A2 has run at 6¢ in Argentina since December 2024, through the deepest hashprice trough since, without a day under its power line. Its water-cooled sibling has already crossed to Nigeria. This one has not, and the halving will decide when.

Firsthand card: "SealMiner A2", progress report, 16.5 J/TH, 226 TH/s air-cooled, with the machine itself on a dark background

Bitdeer SealMiner A2 (226 TH/s)

Every day on, since December 2024

The SealMiner A2 is Bitdeer's air-cooled machine of the second generation: 226 TH/s from 3,729 W, which is 16.5 J/TH, built on the company's own SEAL02 chip, according to Bitdeer's launch release of 31 October 2024. Bought once its price settled, in December 2024, it cost $3,844. Landed at our Argentina site, the all-in cost was $5,697.

In 671 days since, it has mined and kept 0.0733 BTC, worth about $5,981 today, for $3,734 of electricity. That is $2,247 of cashflow, or 39% of its landed cost, with every coin kept. The run has 0 days switched off in it.

It is a little under two years into a four-year machine, so the number to read is the direction, not the multiple: it has paid its power every day, and the coins keep arriving.

Chart: Coins kept since December 2024, the electricity that made them, and where it lands by the 2028 halving.

The trough it had to clear, and cleared by a sixth

A machine's line is the hashprice at which it stops covering its own power. At 16.5 J/TH a petahash uses 396 kWh a day: $23.76 at Argentina's 6¢, and $15.44 at Nigeria's 3.9¢.

On our hashprice chart, the lowest day since the machine was bought was $27.74 a petahash a day on 6 June 2026. That is 17% above the 6¢ line. No day since December 2024 closed under it.

A margin of that size is what made Argentina a comfortable place to run it. It is also what a machine of this efficiency has to live on: a few more J/TH and the same trough would have shown up as days switched off, as it did on older machines in the S19j Pro+ field report.

Chart: Network hashprice per petahash per day since the A2 was bought. Its 6¢ line, $23.76, sat under the June 2026 low of $27.74. Open the chart

The move it has not made yet

The A2's water-cooled sibling made its one move to Nigeria on 25 September, as we set out in no days off in 641 in the UAE. It crosses when a full year of figures says Nigeria's 3.9¢ is decisively the better home, and the rule is in a machine crosses to cheap power once.

The air unit has not reached that point. It draws the same 16.5 J/TH, but the water-cooled unit carries pumps on top of its rated power and the air unit has none, so the test has been met later for it. Today it still runs in Argentina, at 6¢, where it has been for all 671 days. Its first move is ahead of it, not behind it.

Chart: Profit over electricity, month by month, at 6¢ in Argentina at the prices of the day.

Where it stands, and what the halving does to it

Today a coin costs it about $55,500 of electricity at 6¢ and about $36,100 at Nigeria's 3.9¢, against a bitcoin price of $82,230. One bought at today's price returns 19% in its first year at 6¢ and 25% in Nigeria.

The April 2028 halving halves the coins a petahash earns. At today's price and difficulty that puts hashprice at about half of today's, which is under the 6¢ line and above the Nigerian one. So the machine's second act is in Nigeria. The forward figures to that date add 0.058 BTC, worth about $7,269 with bitcoin back at $124,493, which would take cashflow to about 1.7× the landed cost. That is today's conditions held flat, apart from the price, which every forward projection assumes recovers.

What it says about the next machine you buy

We found no operator threads or repair write-ups on this machine to cite, so reliability is unknown rather than good. Bitdeer's own shop page lists a warranty of 365 days from shipment. What the run shows is the arithmetic: 16.5 J/TH cleared the deepest trough since purchase by a sixth, and needs Nigeria's rate to clear a halved hashprice.

Bitdeer's own step up, the A2 Pro Air at 14.9 J/TH, is reviewed in our A2 Pro Air review, and the A3 Hyd sits at 13.5. A machine at 13.5 J/TH has a line of $19.44 at 6¢, under a halved hashprice. The figure below ranks what we would put in its place today, on cost per coin and then year-one return.

What we would put in its place today, ranked on cost per coin and then year-one return.

Sources and further reading

Which machines this covers

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.