Cyber security analyst, Matt C, highlighted the growing pressure of the latest mining rigs upon previous generations of miners as hashing costs reach $0.07/kwh.
#Bitcoin profitabilnost rudarstva po @LuxorTechTeam govori sve..
Antminer S19 XP je 3+ puta bolji od prethodne generacije 💰
2022 Rudari stavljaju poteškoće preko krova dok pokušavaju izbaciti konkurenciju iz posla. pic.twitter.com/g5akp0RXjf— Matt C⚡️ (@mithcoons) Novembar 23, 2022
Comparing the eight Miners displayed in Matt’s tweet, it’s clear to see the difference in performance is quite stark between the latest 2022 gen rigs and previous gen rigs.
As mining profitability wanes for older models – even into negative figures – later 2022 models are amping up the difficulty to such an extent that they are pushing the competition entirely out of the Bitcoin mining business.
GM miners!🌞
Bitcoin’s difficulty increased by nearly 1% yesterday to set a new all-time high, and Bitcoin’s price is down to start the week.
As a result, hashprice is slipping back toward the all-time low it set two weeks ago👇https://t.co/JN7OmpIB7s pic.twitter.com/8OjSXJGmdc
— Hashrate Index (@hashrateindex) Novembar 21, 2022
The Bitcoin (BTC) mining data analytics provided by Luxor Mining, detailed that in a snapshot dated Nov. 21st, mining difficulty was up by 0.96%. The team later corrected this value in a comment below stating that “the last difficulty adjustment was 0.51%, NOT 0.96%.”
Despite the correction required, the clear message within the snapshot displayed showed that hashprice was beginning to fall as a result of the increase in difficulty, and the decrease in BTC price — back towards the all-time low of around $54/PH/day.
At press time, hashprice has increased since the Nov. 21st snapshot and stands at approximately $58.07/PH/Day.
Source: https://cryptoslate.com/latest-mining-rigs-amp-up-difficulty-to-zone-out-competition/