It doesn’t take a year to get your money back! Bitmain releases S21 new mining machine, Bitcoin mining efficiency increased by 22%
Bitcoin is approaching its once-every-four-years halving event. On September 22nd during the 2023 Global Digital Mining Summit, the world's largest mining equipment manufacturer, BITMAIN, officially released its latest mining machines, the S21 Hyd and S21. These are historically the most energy-efficient Bitcoin mining machines.
Bitcoin is gearing up for its once-every-four-years halving event next year, becoming the most talked-about bullish narrative in the cryptocurrency market. The world's largest mining equipment manufacturer, BITMAIN, officially made its announcement during the 2023 Global Digital Mining Summit held in Hong Kong from September 22nd to 23rd. The theme of the summit was 'Gathering Momentum for the Bull Market: The Right Time to Mine,' hinting at the potential upcoming Bitcoin bull market.
Announced the latest model S21 Hyd
Throughout the summit, the most anticipated moment was BITMAIN's release of two new Antminer Bitcoin mining machines: the water-cooled S21 Hyd and the S21. According to data presented by BITMAIN, the S21 Hyd boasts a hashing power of 335T with an energy consumption of just 16 W/T. The S21 also impresses with a hashing power of 200T and an energy consumption of 17.5 W/T. Compared to the previous generation, the S19 XP, which had an energy consumption of 21.5 W/T, the S21 series represents a decrease of at least 18%. This equates to a 22% increase in mining efficiency, making it the most energy-efficient Bitcoin miner in history.
Worth noting is that the ANTMINER S21 Hyd, even in its highest energy consumption mode, maintains an average temperature below 45 degrees Celsius, and under basic mode, it remains below 40 degrees. As per BITMAIN's official website, the current purchasing model for the S21 Hyd emphasizes a 'mine now, pay later' approach. For those who register and pay a deposit before October 7th, they can secure a machine at a rate of just 14 USD/T, meaning the S21 is priced at only 2,800 USD, while the S21 Hyd is available for 4,690 USD.
The payback period is less than one year
Using NiceHash for estimation, it's conservatively projected that the Antminer S21 Hyd would yield a daily profit of at least 20.76 dollars. This is calculated based on the current Bitcoin price. After deducting electricity costs, the daily net profit stands at 13 dollars. Assuming the mining difficulty and coin profitability remain constant, the payback period is only 360 days, less than a year.
In the past, BITMAIN introduced innovations starting from the S9, which was the first to achieve under 100J/T, followed by the S19 at 34.5J/T, the S19 Pro at 29.5J/T, the S19 XP at 21.5J/T, and the S19 XP Hyd at 20.8J/T. If we look back to the S1 in 2013, which had an energy consumption of 2000J/T, the current mining machines have seen a 100-fold reduction in power consumption, with a 1,400-fold increase in hashing power.
