Over the last few weeks, cryptocurrency markets have been on a tear accumulating considerable gains following the notorious ‘crypto winter.’ Since the recent price hike this spring, mining digital assets with next-generation miners has allowed participants to secure significant gains and even older mining devices are turning a profit.
Next Generation and Older SHA-256 Miners Are Pulling in Decent Profits Especially in China
After the price of bitcoin core (BTC) and bitcoin cash (BCH) started seeing significant gains miners that process the SHA-256 algorithm have started to pull in decent profits. The trend has changed since last December when news.Bitcoin.com reported on how only five SHA256 miners were profiting at the time. Now a large majority of devices are doing quite well and according to data at an average of $0.10 per KWh the top ten most profitable miners are clearing more than $10-15 a day per unit.
The top 10 available SHA-256 miners and their 2019 profits per day. Picture shown is set at a rate of $0.10 per KWh.
This includes mining devices such as the Asicminer Pro (76TH/s), Antminer S17 (56TH/s), Innosilicon T3 (52TH/s), and the Bitfury Tardis (80TH/s). Moreover, if the miners are located in mainland China and are getting $0.04 per KWh then those using next-generation machines are pulling in $15-21 a day per unit. And now with the wet season in China, the cost of electricity in Sichuan can be as low as 0.08 yuan ($0.01), which means mining pools with high performing rigs can profit by $25+ a day per miner.