During a downturn, two BTC miners successively mine independent blocks. Who else is mining?

According to a recent research report from JPMorgan Chase, the profitability of BTC miners has reached an all-time low. Theoretically, with an electricity cost of $0.07 per kWh and a Bitcoin price of $56,000, only seven high-end models among the mainstream miners are profitable. However, it is in such a downturn that news of independent miners mining entire blocks has emerged on August 30th and September 10th.

On August 30th, an independent miner mined a block at block height 858978, which was worth 3.275 BTC, with a reward close to $200,000. On September 10th, another independent miner added block 860749 to the Bitcoin blockchain, earning a block reward of 3.169 BTC and a transaction fee reward of 0.044 BTC, worth over $181,000.

During market slumps, this kind of luck is particularly inspiring but also extremely rare. However, there is a group of miners in the world who are also quite fortunate, managing to reap relatively good benefits with almost no risk even during market downturns. These are miners with access to low-cost electricity, such as those in Russia and the UAE.

Taking the UAE as an example of the Middle Eastern mining community, the country has an abundance of electricity, allowing citizens to enjoy electricity as low as $0.012 per kWh. This gives miners many options when choosing mining equipment, but which model can be purchased at a low cost, has a fast payback period, and a low shutdown coin price? The most popular model is likely the WHATSMINER M50.

When mining Bitcoin with the WHATSMINER M50 in the Middle East, it has the advantages of low total cost, fast payback, low shutdown coin price, and heat resistance. This miner was released in 2022, with a hash rate of 110-120T and a power consumption of around 3360W, and an energy efficiency ratio of 28-29J/T. The machine has an excellent cooling system that ensures stable temperatures during long periods of high-intensity operation, increasing its service life. Some experiments have proven that the machine can operate stably in various mining environments and even harsh conditions like deserts, reducing the risk of downtime.

The WHATSMINER M50, with an electricity price of 1.2 cents per kWh and a coin price of $60,000, has an electricity cost accounting for only about 20%, mining approximately 0.0000888 BTC per day, with a net profit of about $4.4, and a payback period of about 230 days. The shutdown coin price is as low as around $10,000, making it a machine that can bring a great sense of security to low-cost electricity miners in any market condition. And its spot price is less than $1,000.

Currently, there are hundreds of WHATSMINER M50s in the BITMARS warehouse. Miners interested in this machine, please contact us as soon as possible. Welcome to inquire about various models of BTC ASICs at BITMARS, and contact us to get the most suitable mining solution for you!

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!