{"id":462190,"date":"2022-06-13T14:26:27","date_gmt":"2022-06-13T11:26:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/"},"modified":"2022-06-13T14:26:27","modified_gmt":"2022-06-13T11:26:27","slug":"old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/","title":{"rendered":"# Old Bitcoin mining rigs risk &#8216;shutdown&#8217; after BTC price slips under $24K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a276abe9140a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a276abe9140a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/#%E2%80%9D_Old_Bitcoin_mining_rigs_risk_%E2%80%98shutdown_after_BTC_price_slips_under_24K_%E2%80%9C\" >&#8221; Old Bitcoin mining rigs risk &#8216;shutdown&#8217; after BTC price slips under $24K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/#75_drop_in_Bitcoin_mining_profitability\" >75% drop in Bitcoin mining profitability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/#Bitcoin_mining_stocks_suffer\" >Bitcoin mining stocks suffer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\/#New_gen_BTC_mining_rigs_still_in_profit\" >New gen BTC mining rigs still in profit<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Old_Bitcoin_mining_rigs_risk_%E2%80%98shutdown_after_BTC_price_slips_under_24K_%E2%80%9C\"><\/span>&#8221; Old Bitcoin mining rigs risk &#8216;shutdown&#8217; after BTC price slips under $24K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Older Bitcoin (BTC) mining rigs are finding it difficult to generate positive revenues during the ongoing crypto market decline.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"75_drop_in_Bitcoin_mining_profitability\"><\/span>75% drop in Bitcoin mining profitability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The profitability of many <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>lication Specific Integrated Circuit (ASIC) machines has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.f2pool.com\/miners\">dropped<\/a> into the negative zone after Bitcoin&#8217;s fall below $24,000 this June 13, data fetched by F2Pool shows. Those machines include Antminer S11 and AvalonMiner 921, which are now close to their &#8220;shutdown price.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">For your information, we publish the latest list of the Shutdown Price below which crypto mining machines in this chart will have to be shut down for lack of profitability. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qxGtLjJI9l\">pic.twitter.com\/qxGtLjJI9l<\/a><\/p>\n<p>\u2014 Bitdeer (@BitdeerOfficial) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitdeerOfficial\/status\/1536202064258248705?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Notably, Bitmain&#8217;s Antminer S11 offers a maximum hash rate of 20.5 Terra-hash per second (TH\/s)<strong> <\/strong>for a power consumption of 1,530 watts. <\/p>\n<p>The cost of running an Antiminer 211 is 0.13 kilowatts per hour (KW\/h) based on the global average electricity cost. As a result, it would consume around $4.5 worth of power every day versus the roughly $2 income in the same period, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.asicminervalue.com\/miners\/bitmain\/antminer-s11-20-5th\">according<\/a> to data gathered by ASIC Miner Value.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/b48bde57-a949-46e5-a744-77125c5d6a2d.png\"><figcaption style=\"text-align: center;\"><em>The profitability of Antminer S11 as of June 13, 2022. Source: Bitmain<\/em><\/figcaption><\/figure>\n<p>Similarly, the cost of running Canaan&#8217;s\u00a0AvalonMiner 921 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.asicminervalue.com\/miners\/canaan\/avalonminer-921\">comes<\/a>\u00a0to be around $5 per day compared to its income of over $2 in the same period. <\/p>\n<p>Overall, Bitcoin miners&#8217; earnings have dropped from $0.412 per\u00a0TH\/s\/day in October 2021 to $0.11\u00a0per TH\/s\/day in June 2022, according to the &#8220;Bitcoin Hashprice Index&#8221; \u2014 a 75% decline in eight months.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/03de2e8b-8129-4b6f-82af-cb845a7da865.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Hashprice Index one-year chart. Source: Hashrate Index<\/em><\/figcaption><\/figure>\n<p>The losses coincided with a sharp decline in the Bitcoin mining hash rate in the last seven days \u2014 from an all-time high of 239.15 exa-hash per second (EH\/s) on June 6 to 189.72 EH\/s on June 13, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinwarz.com\/mining\/bitcoin\/hashrate-chart\">according<\/a> to data from CoinWarz.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/ecae570f-5f65-40af-84b6-486095e0d69a.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin hashrate data in last 12 months. Source: CoinWarz<\/em><\/figcaption><\/figure>\n<p>This suggests that miners are limiting their BTC production capacity by theoretically shutting down unprofitable mining rigs and may continue in the coming weeks if Bitcoin fails to recover above $25,000 and\/or the mining difficulty adjusts.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_mining_stocks_suffer\"><\/span>Bitcoin mining stocks suffer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On June 13, Bitcoin price\u00a0hit its lowest levels since December 2020\u00a0following a brutal crypto market selloff. <\/p>\n<p>BTC&#8217;s price reached as low as $23,707 (data from Coinbase) versus its November 2021&#8217;s peak of $69,000. The losses came due to the concerns about rising U.S. interest rates.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/a77b168b-5737-43c1-a53d-4044f34fa5d2.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Bitcoin mining businesses, which remain at the forefront of minting and supplying new BTC tokens, have suffered the brunt of falling prices. For example, Canaan&#8217;s stock dropped by more than 90% after topping at $39.10 per share in March 2021.<\/p>\n<p>Similarly, VanEck&#8217;s Digital Assets Mining ETF (DAM), which opened for business in early March 2022, had lost 63% of its value as of June 10, measured from its record high of $46.05. It looked poised to open June 13 lower, per Nasdaq&#8217;s pre-market data.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/8a63d7cd-bb73-4c9a-8a43-c3e9a4281670.png\"><figcaption style=\"text-align: center;\"><em>VanEck Digital Asset Mining ETF daily chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"New_gen_BTC_mining_rigs_still_in_profit\"><\/span>New gen BTC mining rigs still in profit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On a brighter note, some mainstream mining machines still generate profits for miners, hinting their owners would be able to weather the bearish Bitcoin market.<\/p>\n<p><strong><em>Related:\u00a0Crypto winter survival guide: Community shares <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> plan for the bear market<\/em><\/strong><\/p>\n<p>That includes the newly-launched iPollo&#8217;s V1, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.asicminervalue.com\/miners\/ipollo\/v1\">returns<\/a> a daily income of around $62 against its $9 power consumption in the same period, and machines from the Antminer&#8217;s S-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a>, which generate daily revenues of $4.75\u2013$18, despite Bitcoin&#8217;s below-$25,000 prices.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">For your information, we publish the latest list of the Shutdown Price below which crypto mining machines in this chart will have to be shut down for lack of profitability. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qxGtLjJI9l\">pic.twitter.com\/qxGtLjJI9l<\/a><\/p>\n<p>\u2014 Bitdeer (@BitdeerOfficial) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitdeerOfficial\/status\/1536202064258248705?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Nonetheless, some profitable machines are near their shutdown thresholds, including Antminer&#8217;s S17+ (73T). It could become unprofitable when BTC&#8217;s price drop to $22,000, according to data provided by Bitdeer.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/old-bitcoin-mining-rigs-risk-shutdown-after-btc-price-slips-under-24k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Old Bitcoin mining rigs risk &#8216;shutdown&#8217; after BTC price slips under $24K &#8220; Older Bitcoin (BTC) mining rigs are finding it difficult to generate positive revenues during the ongoing crypto market decline. 75% drop in Bitcoin mining profitability The profitability of many Application Specific Integrated Circuit (ASIC) machines has dropped into the negative zone&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmI1YjRhZjctOGVlNC00MGQzLTgwMDEtOGVkNzQyZWYxOGE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74862,81951,74989,74937,74982,75462,74939,75042,78423,73785],"class_list":["post-462190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-mining","tag-bitcoin-price","tag-btc-markets","tag-hash-rate","tag-market-analysis","tag-mining","tag-mining-pools","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462190"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462191"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}