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Break-even Level of various Miners

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
How the Breakeven Level of Mining Allows One to Determine the Pivot Point of Bitcoin

In recent days, the price of bitcoin has fallen sharply, which has led to a decrease in network hashrate by 20%. It suggests an outflow of miners due to the losses, which has happened more than once. We decided to investigate where the breakeven points of mining are located on the most popular devices, and how they correlate with the price.

One of the most famous and widespread miners in the world, ASIC S9, has the worst break-even rates: to profit from this device, the price of bitcoin must be above $7,643.

The leader in terms of profitability at the moment is Asic S17 from Bitmain. It will generate profits until the rate drops below $3,598. The second and third most profitable companies are Innosilicon T3 + 67 and Avalon 1166, the break-even point of which is $3,970 and $4,299, respectively. All of the above models are flagships for the largest mining companies in the world.

If you look closely at the bitcoin chart, you can find a clear relationship between the breakeven levels and the price of bitcoin . So, the level of $7,500 was a key support area for the heading cryptocurrency for 6 months, and it was at this level that Asic S9 had zero profitability.

It could be a coincidence if earlier, we had not already observed how Bitcoin walks through these levels. Just recall the situation a year ago, when Bitcoin was trading at around $ 3,200 - $ 3,500. At that time, the break-even level of the best mining devices was near $ 3,000. And as history has shown, bitcoin has not dropped below this level.

A large number of matches indicate a clear pattern. Therefore, it is worth paying attention to the following two levels: $4,00 and $4,500. It is quite possible that bitcoin will come to these very marks and, possibly, it will be that very bottom from which new explosive growth will be expected from us.

* To calculate the breakeven point, we took the average cost of energy for industrial companies from China at $ 0.075. We calculate for China because 70% of the mining power of bitcoin locates in this country.

Thanks for the good thoughts
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Comments

What are breakeven after halving
+10 Reply
@Jour, if the values are correct (i didn´t check). You can calulate 2x (100% more) but including difficulty... let´s say 110% ...
+3 Reply
Jour Crypto-Coin-Trader
+1 Reply
@Jour, quick math says double the prices on chart. BUT my idea is - If many devices would not be profitable hashrate will drop more. Then best devices will receive more coins (maybe will sell part and hold other part) and price. = Same demand / smaller offer on the market. And price can go higher
+1 Reply
Jour SlavicChartist
+1 Reply
Good research but consider the upcoming halving of rewards, break even for the best asics would double to where we are now roughly...7196 for the S17.
+5 Reply
Great info, but as others have pointed out, as miners with older equipment get priced out of the business and drop their hashpower from the network, difficulty will adjust downwards making the break-even point for other miners lower. As long as BTC has some value, difficulty will eventually adjust to where at least some miners can be profitable. Practically, however, there is a floor below which the hashrate of BTC would get so low that it would no longer be considered the secure network that it is today and would be vulnerable to attacks which would further plummet the value of BTC and possibly eventually cause its demise. I see that as a very unlikely event, however.
+5 Reply
EXCAVO vapordwarf
@vapordwarf, agree
+1 Reply
I really appreciate this and it is exactly what is going on right now.
+4 Reply
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