Previous models of mining equipment will cease to be profitable when bitcoin falls below $ 24 000

The profitability of a large number of bitcoin mining equipment has decreased by 75%, according to the BitDeer mining platform on Twitter.

twitter.com/BitdeerOfficial/status/1 536 202 064 258 248 704?s=20&t=EI69OM5XJLH3pTJ6MYoGZA

It is difficult for old mining rigs to generate positive income during the prolonged decline of the crypto market. Currently, the profitability of many machines with integrated circuits has become almost negative after the price of bitcoin fell to $ 24,000 on June 13. Among the equipment that will soon cease to be profitable is the Antminer S11, which offers a maximum hashing rate of 20.5 Terra-hashes per second (TH/s) with a power consumption of 1530 watts. But there are no questions about the profitability of the new generation of equipment. Experts predict that such mining machines will remain profitable even if the price of BTC falls by another 50%.

Currently, the leading mining companies that mine and supply new BTC have suffered huge material losses. Canaan’s shares dropped by 90% after the BTC price plummeted.