In line with a recent mining profitability ‘report‘ revealed by the AMV [ASICMinerValue.com], amid the ongoing crypto market downfall, even the latest crypto mining machines seem to be in trouble sealing minimum [mining profits] operators.
AMV can be considered as a website analysing and calculating day to day profitability rates for “ASIC” miners, hardware that uses ASIC chips [Application-Specific Integrated circuit], tailored to efficiently mine cryptocurrency on a particular hashing algorithm. Updated each minute, the website calculates profit yields for specific miners based on the current power prices, difficulty levels, block rewards, and cryptocurrency price.
As at the reporting time, the website indicates that among ASIC mining machines allocated to mine cryptocurrencies based on “SHA-256” function- like Bitcoin [BTC] and Bitcoin Cash [BCH] –– solely 2 are presently able to make any profit. Both models were revealed earlier in Oct 2018, and show $0.58 USD and $0.21 USD in daily profits.
The presently most profitable machine named ‘Ebit 11++’, was revealed by the Chinese mining hardware manufacturer ‘Ebang Communication’ and is presently available at a price around $2,024 USD.
As ‘reported‘ earlier this week, Bitmain [Mining Machine Manufacturer] has declared it’ll be closing its development center in Israel and is firing its native workers, seeing the current downtrend followed by the crypto ecosystem.
This Oct, even after the recent market slump, a report from crypto outlet Diar indicated that cryptocurrency mining is profitable for just ‘big guns’, whose pockets are “deep” enough to subsidize burgeoning electricity prices.
As ‘reported‘ by EtherDesk in Oct., Cryptocurrency mining operations in China are reportedly selling-out [mining hardwares] by weight, as opposed to the value per unit.