Largest Bitcoin ASIC Miners enter US

in #bitcoin3 months ago

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Core Scientific recently ordered 17,595 Antminer S19's from Bitmain making it the largest order to reach the US. This deal is considered the largest purchase of Bitcoin miners by a single organization.

"Core Scientific has received and begun testing the first of Bitmain’s newest ASIC miners, and has seen material success in increasing existing hashrate to achieve a 110 TH/s ± 3%."
- Kevin Turner - CEO Core Scientific

Core Scientific has 5 mining farms throughout North Carolina, Kentucky, and Georgia. These facilities can supply up to 381 Megawatt of power.

"the infrastructure to quickly expand to 450MW of power at current locations"
- Core Scientific Customer Success Officer Russell Cann


Antminer S19


Source

The Antminer S19 is Bitmain's top Bitcoin miner available.

Currently, the S19 can generate $9.23 worth of bitcoin daily. This is typically negated by near similar electricity costs to run it. The US is notoriously difficult for mining Bitcoin due to electricity costs.

Electricity Costs

China, however, has a surplus of over 22,000 dams built by the government since 1950 that provides a surplus of electricity. China averages less than 8 cents per kWh in some areas much less. This makes China (and India) the most profitable locations to mine Bitcoin.

These daily estimates are based on current Bitcoin prices, as Bitcoin goes up so does the profitability.

For a short time until the difficulty catches up with it.


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If my simple math is right they could generate $165,761.57 from all the rigs.
Not bad taking away electricity, etc...
It is the amount of less than 18 bitcoins a day.
So long small players!

They going to spend almost that much in electricity in the US.

Impressive

I keep my S3Antminer as a collector, indeed with such companies around and the electricity cost, my miner is nothing but decoration ;)

Good for Bitcoin holders

A bit overvalued post.

Yo quiero uno!! Me encantaría minar!!

I think bitcoin mining is falling from day to day.

If that was the case Bitcoin would be dead. There is more competition either via miners or difficulty. But it isn't going anywhere.

Bene is no longer dependent on miners. About 2 million more bitcoins will be produced, and then it will stop. Bitcoin will maintain its value as it is used in exchanges.

There might be only 2.5M coins left but it isn't until like 2040 that mining ends.

Since some time ago I want to invest in a miner and the Antminer S19, it seems to me a good option to do it, I have been doing cloud mining with genesis mining for a long time, but would it be really valuable to invest in it, appreciating the fact that I am in Venezuela, and here the costs of electricity, practically do not exist

 3 months ago Reveal Comment

Around $2200 each.