IS BITCOIN MINING STILL PROFITABLE?

Bitcoin had surged from US$700 to US$2,700 since I started my Bitcoin mining journey. My first mining rig I bought was a second hand Antminer S7 from a newly met friend back then. The mining was all good until I bought Antminer S9 before it go out of stock from Bitmain. I never regret my decision to invest in this mining machine as I get a daily return of 0.007BTC deposited into my XAPO account (Now using CEX.IO). Things have started to change after Bitcoin price rises to its current peak and my daily return had reduced to 0.005BTC. People may ask, is it still profitable to mine Bitcoin? So, here goes my review to answer that question. Hope this guide will help.

DISCLAIMER: The proceeding article written is solely base on the contributor's experience of the product and deem useful for the audience. No marketing affiliation are involved in this article to promote or to market the products of Bitmain. However there are affiliated links of the Antminer S9 sales made through Amazon. All information being published are educational and partly to encourage audience to invest in the Antminer S9 for monthly passive income. Though the links are affiliated with Amazon, audience are advise to counter check the seller's profile before purchase being made. The contributor bare no responsibilities to any erroneous conduct by the seller. Please note that this disclaimer is only applicable to this article and does not apply to any other or future article released. Each article will hold its own disclaimer statement accordingly for audience awareness of the purpose of the article published.

Hashrate and Product Selection

When we are dealing with Bitcoin mining, the very first important factor we really need to know is the hashrate. Hashrate is a process of complex calculation of a CPU or GPU to retrieve information which are written in computerized script. Bitcoin is being program as an encrypted programming code and require hardware with higher hashrate to increase the speed of "solving the puzzle" of encrypted coins. If you are going to use CPU or GPU to mine Bitcoin, it will take a very long years to mine a fraction of it. The only way to mine Bitcoin now is to use an ASIC machine. There are several ASIC machines available in the market, however I personally prefer Bitmain's Antminer because of its user friendliness.

Click on the image to make an order.

Besides being user friendly, Bitmain's Antminer is also the most powerful ASIC machine available in the industry, The current available Antminer S9 batch released has hashrate at 13.5TH/s with selling price at US$1113.00. Take note that there are other distributors online which will sell 2nd hand Antminers even S7 may cost more than US$3,000.00. So, be careful if you are buying from 3rd parties.

[You can access Bitmain website here: www.bitmain.com]

So, now we know that Antminer S9 hashrate is 13.5TH/s, what does it mean? Let's continue on the the next section and all will be explained.

Mining Difficulty

Mining difficulty exist because of the scarcity of the Bitcoin available for circulation. The more Bitcoin are available in the market, the more difficult it will be to mine Bitcoins. So, that explains why we have hashrates. Higher hashrate will help to cope up with the mining difficulty and to balance the profitability of mining operation.

The table shown above is a calculator which helps to calculate out the profitability of mining at a given time of mining difficulty. So from the calculation shown, at a difficulty of 7.11e+11, we use a 13.5TH/s mining machine, our per day return is 0.0047 which is equivalent to US$12.89 or US$392.45 per month. Taking that you have bought Antminer S9 today at US$1113.00, your machine purchase will break even by 3 months! But wait ... there's more to that.

[You can access the mining difficulty calculator here: https://alloscomp.com/bitcoin/calculator ]

Operation Costs and Profitability

There are rarely such things as FREE internet and FREE electricity, unless government subsidize it. Internet and electricity are the two main operation sources which makes the mining machine works. Without them, don't expect a fraction bitcoin to your wallet. Now, I'm in Malaysia, so I'll put up the operation costs based in Malaysia. If you are from some other parts of the world, you will need to pull out the information on your own. 

In Malaysia, the price we are paying for internet in average is about RM200.00 per month. Converting that to USD is about US$46.50 per month. This means, internet is taking up about 12% of the mining profit.

As for the power consumption, 1 Antminer S9 will use about 1,375watts per hour. which is equivalent to 990,000watts per month, key that number (in kWh) into TNB power consumption cost calculator, example shown below,  Your monthly power consumption cost is RM446.99, which is roughly US$103.95. This means your power consumption cost is about 26.5% of the mining profit.

[You can find the bill calculator here (select domestic on the pull down menu): https://www.tnb.com.my/residential/billing/ ]

Your mining profitability will be about 61.5% net every month! 

Not only you are still profitable in your mining operation, you still get to break even your investment in less than 5 months! 

Are you ready to start your mining operation? :D
BUY YOUR ANTMINER S9 NOW!
Antminer S9 ~13.5TH/s @ .098W/GH 16nm ASIC Bitcoin Miner

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