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F2Pool Warns Older Bitcoin Mining Rigs Unprofitable at $0.06/kWh

F2Pool Warns Older Bitcoin Mining Rigs Unprofitable at $0.06/kWh

F2Pool data shows older Bitcoin miners like Antminer S19, Avalon A12/A13, and Whatsminer M20/M30 face $90K–$100K shutdown prices, while modern liquid-cooled rigs remain profitable at much lower thresholds.

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Fact Check
The assessment is based on a synthesis of the most authoritative and relevant sources provided. The core of the analysis hinges on the relationship between a mining rig's efficiency (energy consumption per unit of hash rate), the cost of electricity, and the revenue generated from mining (determined by Bitcoin price and network difficulty).The most direct evidence comes from the BITMAIN profitability calculator. This primary tool allows for a direct test of the statement's claim. When one inputs the specifications for rigs considered "older" by industry standards (e.g., Antminer S17 or S9, which have lower hash rates and significantly worse energy efficiency compared to modern units), the calculator consistently shows a negative profit at an electricity cost of $0.06/kWh under current market conditions. The daily electricity cost for these inefficient machines surpasses the value of the Bitcoin they can mine.This conclusion is strongly supported by the EZBlockchain article, which explains the underlying economics. It details how rising network difficulty and the Bitcoin halving events squeeze profit margins, making operational costs, particularly electricity, the deciding factor for profitability. The article's analysis confirms that only the most energy-efficient miners can operate profitably at moderate electricity prices like $0.06/kWh, pushing older, less efficient hardware offline.The live Bitcoin price from Coinbase is a necessary input for these calculations but does not by itself confirm or deny the statement. The other sources are not specific enough to contribute meaningfully to the assessment. The commentary from the analyst is too high-level, and the Wikipedia article is too general.In summary, the direct, verifiable data from the industry-standard calculator, backed by expert economic analysis from a specialized company, provides consistent and strong evidence that older, less efficient Bitcoin mining rigs are indeed unprofitable to operate at an electricity cost of $0.06/kWh.
Summary

F2Pool reports multiple older Bitcoin mining models, including Antminer S19 series, Avalon A12/A13, and Whatsminer M20/M30, are incurring daily net losses under current market conditions, with shutdown prices between $90,000 and $100,000 per Bitcoin. In contrast, advanced high-efficiency liquid-cooled rigs such as the Antminer S23 Hyd. remain profitable with shutdown prices near $32,200. The data highlights the growing performance disparity between legacy mining hardware and technologically advanced models.

Terms & Concepts
  • Bitcoin mining: The process of validating Bitcoin transactions and adding them to the blockchain, typically involving specialized hardware and electricity costs.
  • Liquid-cooled mining rig: A mining device that uses liquid cooling systems to manage heat, improving efficiency and performance.
  • Shutdown price: The Bitcoin price level below which mining becomes unprofitable given specific electricity and operational costs.