According to Bitmain founder Jihan Wu:
1. Currently, the liquidity of the mining circle is top-down. First-hand mining machines are first circulated to Europe, the United States and other countries, where the regime and rules are the most stable, but the electricity price is relatively high. If calculated based on the electricity price of 5 cents or 6 cents, a 30-joule mining machine will reach the shutdown point at about US$60,000.
2. According to the current estimates of mining machines on the market, mining machines in this range account for about 50% of the current total circulation. That is to say, if electricity prices are high in Europe and the United States, half of the mining machines will not make money at $60,000.
Mr. Han said that the data must be correct. The "30 joules" he mentioned refers to the "wall power efficiency" of the mining machine. That is, the energy efficiency ratio of the mining machine. For example:
S19 Pro: 100T computing power, 2950W power, wall power efficiency is 29.5 J/T
S19 Pro+ Hyd: 191T computing power, 5252W power, wall power efficiency is 27.5 J/T
Then these two mining machines belong to the models mentioned by Mr. Han. In other words, the mining machine with greater computing power is not necessarily better. Although the S19 Pro+ Hyd has greater computing power, it also has greater power, so the power consumed by the two mining machines when mining the same amount of $BTC is actually the same.
I didn’t expect that this kind of main model in the last cycle still occupies more than 50% of the current market share. Mr. Han said that this type of mining machine will reach the shutdown point at about $60,000. I calculated it with yesterday’s data table, and the conclusion is exactly the same as what Mr. Han said (the electricity fee is 6 cents, and the profit of S19 Pro is negative).
The main mining machine in this cycle, S19 XP Hyd (computing power 257T, power 5345W, wall power efficiency 20 joules/T), has a shutdown point of around US$47,000.
