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Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

December 10, 2018 |

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

There has been a slew of bitcoin mining rigs announced during the last 12 months that claim to process more terahash per second while consuming less energy. However, with cryptocurrency prices so low, lots of newly launched machines are not profitable and many of them haven’t even shipped yet.

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The Five Profitable Mining Rigs

Digital asset prices have seen better days as cryptocurrency markets throughout the entire 2018 calendar year have been riding a long bearish trend. Many coins with the SHA-256 mining algorithm such as bitcoin cash (BCH), bitcoin core (BTC), and peercoin (PPC) have lost considerable value. Because cryptocurrency prices are so low, many mining devices announced this year are failing to bring a profit and some machines cannot be purchased on the open market. According to real-time statistics from Asicminervalue.com at the time of publication, only five mining devices make a profit and two machines are not yet available on the market. The data website uses a combination of electrical costs, current network difficulty, block reward, and exchange rates to figure out whether or not certain ASIC machines are profitable.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Machines With Significant Terrahash Pull Small Profits

The most profitable machines on Monday, Dec. 10, 2018, three weeks before the new year, are manufactured by the corporations Ebang, Asicminer, Innosilicon, and Bitmain. The Ebang Ebit E11++ is currently the most profitable mining device on the market with 44 terrahash per second (TH/s) and it consumes 1,980W. The Ebang mining rig priced at $ 2,500 makes about $ 1.39 per day profit with current BTC prices. The E11++ is currently available on the open market from two companies but one vendor is only taking pre-order right now. The Asicminer 8 Nano is another machine that processes 44TH/s but pulls 2,100W from the wall. The machine created by Asicminer was launched in October and pulls a profitability of about $ 1.02 per day, at the time of writing. The company’s 8 Nano is available for purchase through the Canadian dealer Mining Cave for $ 2,045.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Then there’s the new Innosilicon T3 model, which also claims to boast roughly 43TH/s but the rig is not available to the public just yet. The T3 will be released in January 2019, according to the company, at a price of $ 2,500 per machine. With current market statistics, this gives the T3 a profitability of about $ 0.84 per day for a machine you cannot obtain. The next most profitable miner, Asicminer 8 Nano Pro, is obtainable according to Asicminervalue. The Nano Pro claims to process a whopping 76TH/s but consumes over 4,000W in electricity. These metrics make the $ 11,600 machine only profitable by $ 0.59 per day. Lastly, Bitmain contends the Antminer S15 machine produces about 28TH/s, pulling 1,596W from the wall, giving the device a profitability of $ 0.27 every 24 hours.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Operating at a Loss

Many other machines that were announced this year are not showing profits and consume more energy cost if the companies continue to operate them. GMO’s B2 and B3, which boast 24-33TH/s, can lose between $ 1.90-4.98 per day at current BTC prices. The infamous Halong Mining Dragonmint T1 model sees a loss of around $ 1.87 per day.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Innosilicon’s previous models, besides the unobtainable T3, are all seeing losses at the time of publication. The top four Whatsminer models (M10, M10s, M3, and M3X) lose $ 1-4.25 every 24 hours, according to the statistics. A large variety of SHA-256 Bitmain models, including the S9, R4, S11, and many other series, are unprofitable. The Canaan Avalon series is in the same boat as the 841, 821, and 921, losing about $ 1.69-1.86 per day with current BTC prices at $ 3,500 per coin.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Bearish SHA-256 algorithm coin prices have affected network hashrate considerably over the last few months. For instance, the bitcoin core (BTC) hashrate touched 61 exahash per second (EH/s) during the last week of August, but this month the BTC hashrate is only 35 EH/s. However, there may be many facilities which are still making a profit with older machines if their electric cost is highly subsidized or nearly free.

Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December

Many flashy machines announced this year have touted 7 and 10 nm chips and much bigger processing power, but cryptocurrency market prices have made it so only a few machines are profitable. But if markets push higher again turning from a bearish-to-bullish trend, then a great majority of the newly released 2018 mining rigs should become profitable again.

What do you think about these mining rigs and their profitability rates with current prices? Let us know what you think about this subject in the comments section below.

Disclaimer: Bitcoin.com does not endorse these products/services. Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. This editorial is intended for informational purposes only. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images via Shutterstock, Ebang, Asicminer Nano, Bitmain, and Asicvalue.com.


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The post Only Five Bitcoin Mining Devices Released in 2018 Are Profitable This December appeared first on Bitcoin News.

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Two US States Issue Cease and Desist Orders Against Five ICO Issuers

October 17, 2018 |

Two US States Issue Cease and Desist Orders Against Five ICO Issuers

The U.S. states of Colorado and North Dakota have independently issued cease and desist orders against companies promoting initial coin offerings in their states. Their tokens are potentially fraudulent securities offerings, according to the two states’ securities commissions. One scheme promises a return of 10 percent per month and claims to be pegged to the price of gold.

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Colorado Targets Two ICOs

Colorado Securities Commissioner Gerald Rome signed two final orders on Oct. 12, directing a pair of companies to cease and desist offering or selling unregistered securities in the form of initial coin offerings (ICOs) in his state.

Two US States Issue Cease and Desist Orders Against Five ICO IssuersDavor, which issues Davorcoin, and Cyber Capital Invest, which offers the CCI token, “received the orders as a result of an investigation into potentially fraudulent securities offerings in Colorado in the form of ICOs,” the state’s Division of Securities announced.

According to the regulator, the ICOs offered by the two companies are not registered in Colorado or exempt from registration. Nonetheless, they were offered to residents of the state without full and fair disclosure of the risks associated with them.

Davorcoin’s website describes the token as a new cryptocurrency aiming to become an alternative to coins such as bitcoin and ether, the securities division explained, noting:

Investors were promised returns as high as 10 percent per month for participating in a ‘staking pool’ and were told that davorcoins are pegged to the price of gold and can be traded on exchanges.

Cyber Capital Invest’s website states that the CCI token is a “profit share token” allowing investors to receive a guaranteed daily return of between 0.75 and two percent based on the “access level” they select. In addition to direct sales, the company offers commissions to the promoters of its token through a bounty program.

North Dakota Targets Three ICOs

North Dakota Securities Commissioner Karen Tyler issued cease and desist orders on Oct. 11 against three companies promoting ICOs in her state. The state’s securities commission explained that the three firms promote tokens that are unregistered and potentially fraudulent.

Two US States Issue Cease and Desist Orders Against Five ICO IssuersThe orders resulted from investigations that are part of Operation Cryptosweep, a coordinated investigation and enforcement effort involving over 40 U.S. and Canadian securities regulators. In August, there were more than 200 crypto-related cases being investigated and 46 enforcement actions taken.

The commission wrote, “The companies that are the subject of the orders are Crystal Token, Advertiza Holdings (Pty) Ltd., and Life Cross Coin.” They are not registered in North Dakota to offer securities, but their websites are active and available to the state’s residents.

Commissioner Tyler explained that Crystal Token’s website offers an “evolutionary multi-utility token” to trade in other cryptocurrencies. It also claims that investors can earn interest of up to two percent per day, paid in another token, the order details, adding:

Crystal Token’s website contains allegedly fraudulent statements with claims of excessive unsubstantiated rates of return on investment, fails to provide sufficient disclosure of the management team’s credentials, and purposely withholds their identities.

Two US States Issue Cease and Desist Orders Against Five ICO IssuersAdvertiza Holdings’ website suggests that the holders of its token “can expect to make a profit from the appreciation” of its value. The regulator alleges that this advertisement indicates that the firm’s representation of its token “as a utility token is incorrect and it is in fact a security.” Furthermore, “Advertiza falsely claims it has made a filing with the SEC [U.S. Securities and Exchange Commission] under federal Rule 506c of Regulation D.”

Life Cross Coin’s website claims that its token will be used for the donation and support of charitable organizations, the order describes, adding that it advertises “huge return on investment.” Moreover, “The website contains allegedly fraudulent content including the people represented to be the executive team, who all appear to have fake names,” the commission found, noting:

Life Cross Coin, aka Lifecrosscoin, operates a website from a Berlin IP address associated with ransomware, trojans, and identity fraud.

What do you think of Colorado and North Dakota issuing cease and desist orders against these ICO issuers? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Two US States Issue Cease and Desist Orders Against Five ICO Issuers appeared first on Bitcoin News.

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