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Mining Insights: ANTMINER S9's ups and downs in mining journey
[2021/4/5]
In the field of Bitcoin mining, I am afraid that there is no more legendary model than the Antminer S9.

Once the Antminer S9 was released in 2016, it was sought after by the market, and the price of £¤9,700 immediately

hit more than 20,000.

This magic machine once occupied half of the entire mining machine market in the following three years, but later

with the rapid iteration of mining machine products and the fluctuation of Bitcoin prices, S9 also began its own ups

and downs of mining trip.

                             

Generally speaking, the biggest cost of Bitcoin mining is the mining machine and custody electricity fee. The actual

profit of mining is equal to the number of coins mined each day multiplied by the bitcoin price of the day.

If the actual income is less than the electricity bill of the mining machine, then theoretically the mining machine

has reached the shutdown currency price and should not continue mining.

At the end of 2017, Bitcoin ushered in for the first time approaching 20,000 U.S. dollars. Under the background of

the bull market, the price of S9 was also fired to more than £¤30,000.

But then Bitcoin fell below $7,000 in February 2018, and the price of S9 dropped sharply. People who used to rely on

S9 to make a fortune also fell.

                             
                                                                Bitcoin price on December 12, 2018

In November 2018, the price of Bitcoin fell to about 3,500 U.S. dollars. Compared with the drop of 50% in mid-July,

the S9 miner faces the dilemma of shutting down because the mining income cannot cover the electricity bill. The

currency price fluctuations make S9 start and switch repeatedly between shutdowns.

During this period, Bitmain also released two upgraded versions of the S9 mining machine, S9K and S9SE, which can be

regarded as a renewed life for the S9 model.

In December 2019, the currency price fell below 7,000 U.S. dollars. Based on the low-water period electricity price

of 0.37 yuan/KWh, the S9's electricity bill has reached the shutdown currency price.

On March 2, 2020, the price of Bitcoin directly plunged and dropped by 50%, and S9 again faced the threat of

shutdown.

Fortunately, these few times were shut down for a short time, but the block reward halving event in May 2020 that

really kicked S9 out of the market.

In the early morning of May 12, 2020, the 630,000th block of the Bitcoin network was mined, and the Bitcoin network

ushered in the third halving. The coinbase reward dropped from 12.5 BTC to 6.25, and daily production was reduced by

about 900 BTC.

After the block reward was halved, S9 and other low computing power models were the first to bear the brunt, and once
again penetrated the price of the shutdown currency.

According to the calculations of the Poolin mining pool, even if all calculations are based on the Fengshui

electricity price of £¤0.23, S9 mining is already at a loss, and about 1.3 million S9 units have withdrawn from the

mining market overnight.

The S9 also launched a big sale mode, and the miners thought that the S9 was useless, and they sold their own S9s at

low prices.

                             

                             

                              
                                                                        S9's quotation at each stage

The sell-off of S9 continued until the Bitcoin price exceeded $20,000 in mid-December, and the fate of S9 ushered in

another reversal.

Along with the high price of the currency, the mining income of S9 began to turn from negative to positive and slowly
increased.

At this time, a large number of miners began to look optimistic about the S9, which has a shorter return period. Its

price has risen with the price of the currency, from a few hundred yuan to thousands, and the price of S9 has

recently been fired to £¤2000.

According to the current daily profit of S9 is about 21 yuan, even if the price is 2,000 yuan, the 100-day payback

cycle is quite attractive, and there are many miners who can get the S9 at a lower price.

On the other hand, due to the problem of chip and circuit board production capacity, the insufficient supply of

mining machines has objectively led to the S9 being favored by more and more people.

In fact, recall that if you bought an s9 at a price of 1,500 yuan in May 2019, it has been digging for 690 days, and

the net profit is 37,881 yuan, which has already earned back the cost many times.

                             
                                                       Poolin Mining Pool History Mining Calculator

With the current BTC price exceeding 60,000 US dollars, the existing Bitcoin mining machines have basically been

turned on. According to the current S9's electricity bill, it accounts for less than 40%. It seems that the S9 is far
from being shut down.

                              
                             Poolin mining pool mining machine income ranking: S9 mining machine income data

So don't look at the S9 is an old model, but it can still run.

The multiple reversals of the fate of S9 also made everyone fully aware of the market's impermanence.Even machines

that briefly reach the shutdown price cannot be sold immediately.Even machines that briefly reach the shutdown price

cannot be sold immediately.

Therefore, in the future, miners who already hold S9 may not sell it easily, and the story of a generation of

legendary "machine kings" will continue.


(This article is from Bitpush.News)
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