Firsthand Bitcoin · Data · Bitcoin miners
One side buys the machine at that month's market price and pays every power bill. The other puts exactly the same dollars into bitcoin on the same days. Today the machine is sold for what it would fetch. Power at 6.5¢/kWh, the most we charge at any of our sites today.
| Power price | More bitcoin than buying | More dollars than put in |
|---|---|---|
| 3¢/kWh | 87% (226/261) | 100% |
| 3.9¢/kWh | 70% (184/261) | 98% |
| 4.5¢/kWh | 57% (150/261) | 97% |
| 5¢/kWh | 48% (124/261) | 97% |
| 6.5¢/kWh | 35% (91/261) | 95% |
| 8¢/kWh | 22% (58/261) | 89% |
| 10¢/kWh | 8% (21/261) | 75% |
An Antminer S19 bought in March 2021 for $11,294 paid $6,407 of power and mined 0.430 BTC. The same dollars in bitcoin would have bought 0.440 BTC. Difference: -0.010 BTC (-2%).
| Machine | Mining won | Best month to buy | Worst month to buy |
|---|---|---|---|
| Antminer S9 (13.5 TH, 98 J/TH) | 25 of 59 months | +36% August 2020 | -100% June 2022 |
| Antminer S17 Pro (53 TH, 39.5 J/TH) | 24 of 57 months | +39% May 2021 | -39% September 2022 |
| Whatsminer M20S (68 TH, 49.4 J/TH) | 18 of 53 months | +32% May 2021 | -76% September 2022 |
| Antminer S19 (95 TH, 34.2 J/TH) | 8 of 59 months | +29% May 2021 | -67% May 2024 |
| Antminer S19 Pro (110 TH, 29.5 J/TH) | 10 of 59 months | +40% May 2021 | -37% May 2024 |
| Whatsminer M30S++ (112 TH, 31 J/TH) | 5 of 54 months | +36% May 2021 | -43% May 2024 |
| Antminer S19j Pro (100 TH, 29.5 J/TH) | 1 of 46 months | +15% June 2021 | -37% May 2024 |
| Antminer S19 XP (141 TH, 21.35 J/TH) | 2 of 46 months | +5% March 2024 | -45% July 2022 |
| Antminer S19k Pro (120 TH, 23 J/TH) | 13 of 33 months | +44% February 2026 | -20% September 2023 |
| Antminer S21 (200 TH, 17.5 J/TH) | 11 of 31 months | +20% February 2026 | -20% January 2024 |
| Antminer S21 Pro (234 TH, 15 J/TH) | 8 of 26 months | +6% April 2024 | -15% September 2024 |
| Antminer S21 XP (270 TH, 13.5 J/TH) | 11 of 19 months | +37% January 2026 | -10% October 2024 |
Not counted: repairs, shipping and setup delays, taxes. Past results, not a forecast. Mining output depends on bitcoin's price, difficulty and uptime, and isn't guaranteed.