Bitmain announces the latest in their Antminer S17 hardware series. The release of such hardware combined with increases in hash rate has resulted in older models becoming unprofitable. Reports and data provided to MinerUpdate.com indicate mining farms are rushing to sell their Antminer S9 hardware to any buyers they can secure.
Quick take;
- Bitmain Antminer S17e and T17e announced and scheduled to be delivered in November
- Antminer S9 has become unprofitable in light of new hardware releases and increased hash rate
- Reports and data indicates mining farms are offloading their Antminer S9 hardware to any buyer they can secure with secondary prices for the hardware falling 42% over two months
Antminer S17e & T17e
Bitmain announced two new Bitcoin ASIC models on the 6th of September. The models are the latest in the Antminer 17 series of ASICs. The Antminer S17 and T17 were released in April and May this year.
The design specifications of the announced models, the Antimer S17e and T17e, have a higher hash rate and improved power efficiency. The Antminer S17e is specified to have a hash rate of 65 TH/s with a power efficiency of 45 J/TH. The T17e model is specified to have a hash rate of 53 TH/s and power efficiency of 55 J/TH.
The Antminer S17e is currently estimated to return a profit of $6.37 per day based on calculations from the website asicminervalue.com. The T17e is estimated to generate a profit of $3.62 per day. The models were sold in three separate batches on the 9th, 10th, and 11th of September. Each batch is scheduled to be delivered in November.
Farms Rush to Sell the Antminer S9?
MinerUpdate has conversed with a number of mining farms over recent months. One recurring theme farms have noted is their efforts to locate buyers for Antminer S9 hardware.
Such hardware has recently become unprofitable given the deployment of new hardware and the hash rate increases on the Bitcoin network. The asicminervalue.com website currently estimates that Antminer S9 hardware with a hash rate of 14 TH/s loses approximately $0.92 per day. Selling pressure is certainly evident in data from the secondary market. Broker Blockware Solutions provided MinerUpdate with price data for the Antminer S9 from January.
Antminer S9 Prices & Percentage Changes; Data provided by Blockware Solutions
While Antminer S9 appreciated from January until early July reaching a peak of $550, the price steeply declined thereafter. Secondary market prices have dropped from $550 in early July to $315 in early September, a 42% decline over the course of just two months.
