As a result of Bitcoin’s recent price decline, several mining rigs manufactured in 2019 are operating at a loss, as the amount they mine does not pay for the energy they use.
As Bitcoin dropped as low as $22,600, some 2019-manufactured mining equipment is no longer lucrative, while the remainder is barely profitable.
Bitdeer, a Bitcoin (BTC) mining firm, published a Twitter graphic showing the price thresholds for each piece of equipment to be viable.
Based on the graph, the 2019-manufactured Antminer S17+/67 is no longer lucrative as of today at 12:00 UTC, when Bitcoin went below $25,000.
At the time of publication, Bitcoin trades for $23,437. However, it plummeted below $22,000 early today, rendering Antminer S17+/73momentarily T’s unprofitable.
Antminer S19 and Whatsminer M30S+ were manufactured in 2020, while Antminer S19j was created in 2021. These devices can withstand a 15 percent decline in Bitcoin values before becoming unprofitable.
The additional machines, which were also manufactured after 2020, may stay lucrative despite a 30% decline in Bitcoin’s price.
Did miners foresee it?
Since the beginning of the bear market, Bitcoin miners have started dumping their profits promptly. With a Tweet, crypto YouTuber Lark Davis called attention to the sell-off.
Since miners often keep their profits until the next bull market to sell for a greater price, their propensity to sell quickly suggested that they anticipated the Bitcoin price to fall further. Bitcoin’s price was $31,331 on June 6 when CryptoSlate conducted an in-depth analysis of the matter.
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