Monday Mining Metrics: Bitcoin $70,000
Bitcoin Mining Update - 6/3/2024
Bitcoin hits $70,000
Bitcoin is starting the week off strong; knocking on the door of a new all-time high upon Monday's opening of traditional financial markets.
Bitcoin is now up 17% over the past month, let’s discuss how this price action has affected the profitability of Bitcoin miners…
Firstly, hashprice has steadily ticked up the past month alongside the price of Bitcoin. Bitcoin miners are now earning $0.056 in revenue per terahash per day. For perspective, the latest-generation Antminer is the S21 which clocks in at 200 terahash, brings in ~$11.20 in revenue per day ($347 per month).
Mining Breakeven by Machine Type
The table below depicts the breakeven Bitcoin price for Bitcoin miners based on machine type and electricity rate. Here are a few key takeaways:
1. Latest-generation ASICs are deeply “in-the-money.”
2. Even old-gen machines like the S19j Pro are still profitable when mining at < $0.08/kWh
3. Miner profit margins will explode if/when BTC rips higher
4. The "post-halving capitulation" is over; difficulty is likely up only through the rest of 2024
Blockware Summer Special - Discounted Hosting
Blockware is excited to provide a limited-time opportunity to mine Bitcoin with heavily discounted electricity rates. This opportunity requires a minimum order quantity of 30 Antminer S21s.
Pre-pay six months hosting → $0.073/kWh, $4,777 per Machine
Pre-pay twelve months hosting → $0.069/kWh, $4,582 per Machine
Over the course of one year, option 2 will result in a projected annual return of ~62.3%. Without the discounted hardware and hosting, the projected annual return is ~55.7%.
Projections are calculated with the following assumptions:
4% month-over-month BTC price growth (Avg. of past 3 years)
3% month-over-month BTC difficulty growth (Avg. of past 3 years)
6% additional miner revenue from transaction fees
This special will allow you to benefit immediately by leveraging the highly liquid Blockware ASIC Marketplace Purchase in bulk at a discounted rate → resell on the Marketplace.
ASIC prices are volatile; often moving directionally with the price of Bitcoin. Right now S21 (195 Th/s) are trading around ~$5,000 per machine on the Marketplace.
Blockware Direct ASIC Pricing with Hosting
For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here.
We can help you secure all of the top ASICs currently on the market.
All machines are new and payment includes tariffs, duties, and shipping.
Contact sales@blockwaresolutions.com or reach out here.
All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.