The expert revealed what price of bitcoin will bring profit to miners after halving.
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.
#Bitcoin mining costs are set to double by the end of the month after the halving, jumping from $40K to $80K for S19 XPs, commonly utilized by US miners.
Chart by @clayop pic.twitter.com/iElf2i7Kok
— Ki Young Ju (@ki_young_ju) April 8, 2024
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.
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.
Since the May 2020 halving, mining costs doubled, yet a parabolic bull run ensued, covering these costs and achieving profitability. pic.twitter.com/scE9iiXbOI
— Ki Young Ju (@ki_young_ju) April 8, 2024
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.