According to Antpool data, based on the current Bitcoin (BTC) mining difficulty and electricity cost of $0.08 per kilowatt-hour, many ASIC devices are approaching their critical “shutdown price” levels.
Bitcoin trading at $78,997 at the time of writing is severely impacting profitability, especially for low-performance or older generation devices.
Looking at prominent models, devices like the Antminer S19 XP+ Hydro, WhatsMiner M60S, and Avalon A1466I appear to be operating at prices very close to shutdown costs under current conditions. This increases the risk of miners operating in regions with relatively high electricity costs suspending their operations.
On the other hand, the closing prices of the new generation Antminer S21 series are estimated to be in the range of $69,000–$74,000. For example, the closing price for the Antminer S21 model is approximately $76,353, while for variants like the S21e Hyd and S21+, this threshold is around $74,000. This indicates that a significant portion of the S21 series could move into unprofitable territory in the event of a possible pullback in Bitcoin price.
However, models with higher hash power and better energy efficiency still offer a safe margin. The Antminer U3S23H with 1160 TH/s and the S23 Hydro with 580 TH/s have a closing price of approximately $41,448. Similarly, the S23e U2H model is around $43,630. These devices continue to appear operationally profitable as long as the Bitcoin price remains above $44,000.
One of the weakest links in the chart is the Whatsminer M63S model with 360 TH/s of throughput. The calculated closing price for this device is approximately $80,716. Considering the current Bitcoin price of $78,997, it appears that the model is operating at a loss and has entered negative profit territory.
*This is not investment advice.
