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The main opposition to mining is trading, in other words, the usual purchase of cryptocurrencies (bitcoin, Ethereum, etc.)
In this article, let's analyze the advantages and disadvantages of mining in relation to the purchase of cryptocurrencies in calculations.
The main arguments of trading:
- for the amount of the purchase of asic, you can buy a cryptocurrency and wait for its growth, earn just in dollars / USDT
- no need to bother with mining hotels, maintenance and repair of mining equipment
- cryptocurrency on the wallet immediately in full
The main arguments of mining:
- you can earn more in bitcoins, not just in dollars, in excess of the purchase amount. This is especially important with the high cost of bitcoin.
- in addition to the mined cryptocurrency, we still have an asset in the form of mining equipment that is liquid
Let's start the calculations. Let's take for example 3 models of miners of different power and price category:
- New from Bitmain - Antminer S19 XP 140 TH/s
- Long-established - Whatsminer M30s 88 TH/s
- Used equipment - Whatsminer M21s 54 TH/s
All of them work on the SHA-256 algorithm and mine bitcoin (BTC)
Introductory data for July 17, 2022:
Bitcoin exchange rate (BTC) - $ 21,362 / USDT
The USDT rate is 62 rubles
Mining 1 TH/s per day - 0.00000443 BTC *
Days before halving of the bitcoin network - 659 **
The cost of electricity is 3 rubles / kW ***
| Indicator | Bitmain Antminer S19 XP 140 TH/s | MicroBT Whatsminer M30s 88 TH/s | MicroBT Whatsminer M21s 54 TH/s (used) |
| Power consumption, W/h | 3010 | 3344 | 3240 |
| Price, USDT | $8 890 | $2 740 | $1 010 |
| Now we are counting how many bitcoins we can buy for the price of asics: | |||
| Buying BTC | 0,41616 | 0,12827 | 0,04728 |
| We determine the amount of BTC that can mine 1 asic per day: | |||
| Mining BTC per day | 0,00062 | 0,00039 | 0,00024 |
| We determine the number of days to compare the number of bitcoins in mining mode and when buying at the very beginning: | |||
| Number of days for equality | 671 | 329 | 198 |
| But all these days ASIC will consume electricity, the cost of which must be taken into account. We took 3 rubles/kW for the test | |||
| Cost of electricity per day, rub | 216,72 ₽ | 240,77 ₽ | 233,28 ₽ |
| We determine the cost of electricity for the entire period, for an equal number of bitcoins in rubles and USDT | |||
| Total electricity costs, rub | 145 420,98 ₽ | 79 217,48 ₽ | 46 106,22 ₽ |
| Total electricity costs, USDT | $2 345,50 | $1 277,70 | $743,65 |
| To be honest, we should include these costs at the very beginning of the calculation for the purchase of cryptocurrencies, since this is also an important part of the experiment. We determine the number of bitcoins to buy by the amount of electricity costs, the total number of bitcoins to buy and the total budget. | |||
| Number of BTC for the cost of electricity costs | 0,10980 | 0,05981 | 0,03481 |
| Asic price + electricity, USDT | $11 235,50 | $4 017,70 | $1 753,65 |
| Total amount of BTC when buying | 0,52596 | 0,18808 | 0,08209 |
| But we still have asic itself - it is an asset that can be sold. The new equipment becomes second-hand and loses in price, and with halving, the cost of asics will fall by 2 times in relation to the cost of bitcoin compared to 2022. We divide the purchase price of asic by 2 and identify the number of bitcoins that we have in the cost of equipment - always, you can sell it and buy cryptocurrency. | |||
| Number of BTC in the equipment | 0,20808 | 0,06413 | 0,02364 |
| It is necessary to mine BTC | 0,31788 | 0,12394 | 0,05845 |
| And now we determine the number of days for the equality of bitcoins on the wallet during the initial purchase and its mining: | |||
| Number of days for equality | 513 | 318 | 244 |
The final conclusion based on our examples:
1st place was taken - MicroBT Whatsminer M21s 54 TH/s (used) - an important point is that this equipment is used and WAYMORR guarantees only the transfer of working equipment to the client. During operation, this device needs to be given more attention and maintenance at the very start. Service can be ordered when buying from WAYMORR
2nd place - MicroBT Whatsminer M30s 88 TH/s - new with 6 months warranty from WAYMORR. In our opinion, the most ideal option
3rd place - Bitmain Antminer S19 XP 140 TH/s - despite its power and novelty, this device turned out to be the most unprofitable and its payback in bitcoins is on the verge of the halving period. Therefore, we do not recommend this equipment until its cost is significantly reduced.
A complete table with calculations for all equipment and with different electricity costs can be found in the price list at this link https://waymorr.com/price
And also in our Telegram channel https://t.me/waymorr
The main conclusion of the article and calculations is that mining is much more profitable than the usual purchase of cryptocurrencies. This is especially felt when the bitcoin exchange rate is 50000-60000 $ and you do not need to spend a lot of money to buy it. And it's so nice when it drips on your wallet “conditionally free”!
The profitability in the Ethash, Equihash and Scrypt networks is calculated using the same example.
Thank you for reading this article, I hope it was useful to you. Contact WAYMORR!
*Mining 1 TH/s per day - 0.00000443 BTC - according to ViaBTC https://www.viabtc.com/signup?refer=1129907
**Days before the halving of the bitcoin network - 659 - according to https://academy.binance.com/ru/halving
*** According to the majority (20% as of July 17, 2022) of the voting in the Telegram channel WAYMORR https://t.me/waymorr/425
