Bitcoin's Price Drop and the Network's Higher Difficulty Squeezes BTC Mining Profits

Mining Difficulty Makes Block Rewards Harder to Find, Bitcoin’s Lower Price Makes It Less Profitable for Miners
Bitcoin’s hashrate remains high after the network saw the mining difficulty reach an all-time high of 26.64 trillion on January 20, 2022.
Bitcoin's Price Drop and the Network's Higher Difficulty Squeezes BTC Mining Profits
The last change makes it a lot harder for miners to find a bitcoin (BTC) block subsidy and more difficult than ever before during the last 13 years.
Both the higher difficulty and the lower price make it less profitable for miners.
Top Six Bitcoin Mining Rigs Today Make Less Than $10 a Day, Older Machines Suffer
Currently, the top bitcoin mining rig on January 23, 2022, using $0.12 per kilowatt-hour (kWh) and current BTC exchange rates, makes around $9.41 per day.
The mining rig, Bitmain’s Antminer S19 Pro processes around 110 terahash per second (TH/s).
The Whatsminer M30S++ gets an estimated $9.12 per day in profit using current BTC exchange rates.
Bitcoin's Price Drop and the Network's Higher Difficulty Squeezes BTC Mining Profits
Following Microbt’s M30S++ machine, are three models from Bitmain stemming from the S19j series, which process between 96 to 104 TH/s.
The sixth most profitable mining rig today is Microbt’s Whatsminer M30S+, which processes around 100 terahash per second.
The M30S+ pulls around 3400W of electricity off the wall and with electricity rates at $0.12 per kWh and current BTC exchange rates, the mining rig can profit by $7.28 per day.
This means that older generation units, like the well known Bitmain S9, are far less profitable today than they were when BTC prices were higher and mining difficulty was less.
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