May 29, 2024

The expert revealed what price of bitcoin will bring profit to miners after halving.

How Does Bitcoin Mining Work?
How Does Bitcoin Mining Work?

The cost of Bitcoin mining with Antminer S19 XP is expected to double from $40,000 to $80,000 after the halving, according to CEO of CryptoQuant Ki Young Ju.

The expert noted that this model is widely used by American miners and is top in energy efficiency in the S19 lineup, which still generates a large portion of the hashrate, according to CoinShares.

CoinShares Mining Report 2024 Google Chrome
Data: CoinShares.

The head of CryptoQuant emphasized that after the third halving in 2020, only the subsequent parabolic price increase of digital gold a few months later provided profitable mining operations.

Similar estimates were provided by Hashlabs Mining co-founder Jaran Mellorud. According to his calculations, the direct costs of mining Bitcoin with Antminer S19J Pro in the US after the block reward reduction will amount to $75,000. While the performance of this model is lower than the S19 XP, it still holds a large share in the equipment pool.

Leave a Reply

Your email address will not be published. Required fields are marked *