The CEO of the investment company CryptoQuant said that the cost of mining Bitcoin using Antminer S19 XP equipment will increase to $80,000 per coin.
Ki Young Ju claims that the Antminer S19 XP is most often used by miners from the USA, since the device has good energy efficiency in the S19 line. After the 2020 halving, only the subsequent increase in the value of Bitcoin a few months later allowed miners to turn a profit, recalls the head of CryptoQuant.
A similar point of view is shared by the co-founder of Hashlabs Mining, Jaran Mellerud. According to his calculations, the cost of mining with Antminer S19J Pro in the US after reducing the block reward to 3,125 BTC will be at least $75,000. The businessman predicts that many miners in the US will have to carry out large-scale equipment upgrades. Although switching to the latest plants will allow operations to continue at high costs, such a strategy may not be viable in the long term.
However, Ki Yoon Joo believes that current market trends will allow Bitcoin miners to increase profits by using the most energy-efficient rigs, such as the new Antimer S21 line, which has decent computing power.
At the end of the first quarter, Canadian mining company Bitfarms expanded its fleet of digital asset mining equipment by 51,908 devices. Objective: to achieve a hashrate of 21 EH/s by the end of the year.
Source: Cryptocurrency
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