Just recently, Bitmain and Miner Orb announced the release date of the highly anticipated Antiminer S21 series, set for August 2023. Judging from previous releases, the ASIC (application-specific integrated circuit) miner will likely empty quite a number of pockets. As such, miners may be looking for cheaper alternatives, which might cost less. Albeit expensive, Bitmain’s Antminer S19 PRO could be the next best alternative.
The miner could see a slump in price after the release of the S21 series, and miners will be looking to capitalize on this powerful machine. This begs the question, is the S19 still efficient and profitable in 2023? This article will deduce the ASIC miner’s strengths and weaknesses, showcasing its performance and profitability.
Bitmain Antminer S19 PRO Overview
The S19 PRO is one of Bitmain’s most prominent models, released in May 2020. This powerful ASIC miner is aimed at professional mining operations looking to expand their fleet. With a hash rate of 110 TH/s and power efficiency of 29 J/TH, the S19 PRO generates significantly higher profits than previous models.
The S19 PRO isn’t cheap, but its high hash power and efficiency can generate over $30/day in revenue, providing a decent ROI for serious miners. The machine draws 3250W, so you’ll want a low-cost energy source to maximize profits. Many owners use hydroelectric, geothermal, or solar power, which reduces operating costs.
Some key specs of the S19 PRO include:
- Hash Rate: 110 TH/s, ±5%
- Power Consumption: 3250W
- Energy Efficiency: 29 J/TH
- Power Supply: Two APW7 PSUs
- Dimensions: 352 mm (l) x 130 mm (w) x 187 mm (h)
- Operating Temperature: 0 °C to 40 °C
Bitmain Antminer S19 PRO specs, features, and price
The Bitmain Antminer S19 PRO has several lucrative features for large-scale crypto miners, although it could be a little “out of reach” for small-scale miners.
The S19 PRO retails for around $10,000, so you’ll want to ensure you can earn a good ROI. At ~95 TH/s, you stand to make $20-$30/day in profit, depending on the BTC price and network difficulty.
With a 95 TH/s hashrate, the equipment is one of the highest-ranking among ASIC miners. It’s also highly energy efficient at 34.5±5% J/TH. You’ll want to place this miner in a cool area, though, as it generates a fair amount of heat.
Calculating the Profitability of the S19 PRO in 2023
To determine if the Bitmain Antminer S19 PRO will be profitable for you in 2023, you need to calculate your potential profits based on several factors.
Hardware and electricity cost
The upfront cost of an S19 PRO is above $10,000. This can vary over time based on supply and demand as well as the price of components. Ensure you factor in additional costs like shipping, import duties, or replacement parts.
The S19 PRO consumes 3,250 watts of electricity, so you’ll want to calculate your power costs based on running the miner 24 hours a day. At $0.10 per kWh, it would cost about $7.80 to run per day or $236 per month. Rates can be higher or lower depending on where you live.
Bitcoin price and mining difficulty
The value of bitcoin will significantly impact your profits. If BTC is $50,000, you stand to earn over $30,000 per year. But if the price drops to $20,000, profits would only be $12,000 annually. The volatility of crypto prices makes it difficult to predict with certainty.
As more miners join the network, bitcoin mining difficulty increases, reducing payouts. The difficulty is hard to forecast long-term but historically grows at 15-20% per year. Factor in a conservative growth rate when estimating your 2023 profits.
Block rewards
The block reward for mining bitcoin halves roughly every four years. In 2023, the reward will still be 6.25 BTC per block. Include this in your profitability calculation.
By estimating your hardware costs, electricity rates, the future price of Bitcoin, and increases in mining difficulty, you can get a good sense of the potential profitability of the S19 PRO. Run the numbers for a few scenarios to see how much you might earn if things go better or worse than expected. With some cautious optimism, the S19 PRO still looks poised to turn a good profit in 2023 if you go in prepared for the challenges.
Strengths of the Bitmain Antminer S19 PRO
High hashrate
The S19 Pro’s biggest strength is its high hashrate of 95 TH/s, which means it can compute 95 trillion hashes per second. This allows it to solve Bitcoin blocks and earn BTC faster than previous models. The higher the hashrate, the more BTC a miner can earn.
Efficiency
With a power efficiency of 34.5 J/TH, the S19 Pro is one of the most efficient Bitcoin miners on the market. It consumes 3250W of power to generate its high hashrate. The more efficient a miner is, the lower its operating costs will be. This results in higher profit margins for you.
Profitability
Thanks to its high hashrate and power efficiency, the S19 Pro is a very profitable miner. According to current BTC prices and network difficulty, the S19 Pro can generate over $30 per day in profit after electricity costs. Yields will vary over time based on the cryptocurrency market and mining difficulty, but the S19 Pro is well-positioned to remain profitable for the foreseeable future.
Durability
Bitmain is known for producing high-quality, durable miners. The S19 Pro is no exception, with an estimated useful life of 5-10 years under normal operating conditions. Its heavy-duty design and high-quality components allow it to withstand the intense heat and heavy workload of Bitcoin mining. The S19 Pro should provide many years of profitable mining with proper maintenance.
Resale value
Because Bitmain’s miners are reputable and in high demand, they tend to hold their resale value very well. If you ever want to sell your S19 Pro, you should be able to get a reasonable price for it on the secondary market from other miners looking to expand their operations. This gives you flexibility and helps minimize the risk of your investment.
The S19 Pro has a winning combination of traits that should satisfy any serious Bitcoin miner. High hashrate, efficiency, profitability, durability, and resale value—what more could you want in a Bitcoin miner?
Weaknesses of the S19 PRO
High upfront cost
The S19 PRO comes with a hefty price tag. At around $15,000 per unit, the initial investment in a full setup of multiple miners can easily reach $100,000 or more. This means it may take 12-18 months of mining to break even and start turning a profit. The good news is the S19 PRO’s efficiency helps ensure you will eventually recoup your costs, but you’ll need enough capital to get started.
Loud operation
The powerful fans required to keep the S19 PRO running optimally generate significant noise. At around 75 decibels, the sound can be an annoyance, especially if you have the miners set up in a home or residential area. You’ll want to consider finding an isolated space for your mining operation or investing in soundproofing equipment.
Difficulty increase
As more S19 PRO miners come online, the Bitcoin network difficulty increases to compensate. This means the same miner will produce fewer bitcoins over time. Although the S19 PRO’s efficiency provides some protection against this effect, profits are still likely to decrease gradually. You’ll need to consider upgrading to newer, more powerful models in the future to stay ahead of the curve.
Requirements for operation
The S19 PRO miners require a stable power supply and cooling to run efficiently. This means securing a low-cost energy source, installing proper ventilation, and investing in air conditioning units. The infrastructure demands can significantly add to costs and complicate the setup process.
Final thoughts
The Bitmain Antminer S19 PRO delivers an impressive 110 TH/s hash rate with an energy efficiency of 29.5 J/TH, meaning lower operating costs and higher profits. Albeit its high price per unit, the S19 PRO is a serious investment but could generate a decent ROI if Bitcoin mining remains profitable.
The S19 PRO has a lot of strengths, like its high hash power, energy efficiency, and Bitmain’s solid reputation. However, the high upfront cost, loud fans, and uncertainty around Bitcoin’s future are definite weaknesses to consider. As with any miner, there’s no guarantee you’ll become the next crypto millionaire. But if you go in with realistic expectations, the S19 PRO is a machine that can compete with the best of them.
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