An In-Depth Analysis of 7 Advanced Bitcoin Miners From Bitmain, Canaan, and Microbt

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Recently, the top three bitcoin mining rig manufacturers unveiled a group of next-generation products with efficiency ratings of less than 20 joules per terahash (J/T) and powerful hashrates. In total, Bitmain, Canaan, and Microbt released seven new devices. The following provides a look at the machines’ current profitability using prevailing BTC exchange rates.

A Look at the Current Estimated Profits of the Latest Bitcoin Mining Machines

Three of the world’s largest bitcoin mining machine producers have recently released new products, and these machines will likely benefit BTC’s total hashrate. Bitcoin’s price is hovering above the $34,000 range, and the current hash price in terms of a terahash per second on a daily basis equates to $0.0736. This means that under current market conditions, all seven miners announced by Microbt, Bitmain, and Canaan are profitable if a miner is paying $0.07 per kilowatt-hour (kWh).

Of course, that doesn’t include the upfront cost to purchase any one of those machines, and there’s also the fact that they have not been delivered. Still, subtracting the cost of a miner and the time it takes to return that investment are not leveraged for this analysis. Nor is the future price of bitcoin, as the price of the digital asset could be much higher or significantly lower from this point on. Canaan, the creators of Avalon miners, launched two new devices on September 12, 2023, from the Avalon 14 series.

Canaan’s liquid-cooled A1466I produces 170 terahash per second (TH/s) and has an energy efficiency ratio of 19.5 J/T. Currently, paying $0.07 per kWh, an A1466I will produce an estimated $6.63 in daily profits. The firm’s air-cooled unit that produces 150 TH/s and 21.5 J/T gets an estimated $5.17 per day. Not long after Canaan, Bitmain launched two new mining machines as well from the Antminer S21 series.

On September 22, 2023, Bitmain unveiled its latest products: the S21 Hyd and the air-cooled S21. The S21 Hyd, a hydro-cooled device, boasts up to 335 TH/s and operates with an efficiency ratio of 16 J/T. Meanwhile, the air-cooled S21 miner delivers an output of up to 200 TH/s, and maintains an efficiency of approximately 17.5 J/T. The hydro-cooled Antminer with 335 TH/s can get an estimated $18.69 per day paying $0.07 per kWh. The air-cooled S21 can get an estimated $8.82 in daily profit.

This week, Bitmain also revealed the T21 bitcoin miner, an air-cooled device capable of producing 190 TH/s and maintaining an efficiency of 19 J/T. Currently, the T21 has the potential to generate approximately $8.09 per day. Meanwhile, Microbt also made its moves this week, introducing three new mining machines to the market as part of the M60 family. The M60S air-cooled device produces 170 TH/s which can get an estimated $6.63 per day.

Microbt’s hydro-cooled M63S can produce 360 TH/s and generate roughly $20.52 per day. The immersion-cooled M66 produces 270 TH/s and can generate $13.94 per day at current BTC prices. All three of Microbt’s machines produce an efficiency rating of 18.5 J/T. Joules per terahash is a critical metric in bitcoin mining and the fact that aforementioned machines produce lower J/T means that the miner requires less electricity to perform the same amount of work.

What do you think about the seven new bitcoin mining rigs released this year? Share your thoughts and opinions about this subject in the comments section below.