Major Mining Pool F2Pool Publishes List of Minimum Prices for Profitable Crypto Mining
Co-founder of the world’s sixth largest crypto mining pool has published a list of break-even price points for various crypto miner models.
The CEO of China-based crypto mining pool F2Pool posted a company-branded infographic September 6 that indicates at what minimum price points the mining of various cryptocurrencies becomes unprofitable.
Shixing Mao, co-founder and CEO and of the world’s sixth largest mining pool F2Pool, published a list of price levels for major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Zcash (ZEC) below which mining said currency with various different miners allegedly becomes unprofitable.
According to Mao’s graphic, if Bitcoin’s price hits lower than 36,792 yuan (about $5,376) point, this would mean that mining the cryptocurrency on an Antminer T9 would be unprofitable. In the case of using an S7 model miner, the break-even point amounts to a significantly higher 79,258 yuan (about $11,581) Bitcoin price point.
Break-even price points for different cryptocurrencies and miners Source: F2Pool’s CEO Weibo
In contrast to S7, mining Bitcoin on Antminer T9 model that was released in January 2017, is still profit-making at Bitcoin’s currently prices, while the newer Innosilicon T2 has the lowest threshold, amounting to 26,636 yuan or about $3,891.
At press time, Bitcoin is trading at $6,452, according to Cointelegraph’s Bitcoin Price Index
In mid-August, U.S. graphics processing unit (GPU) manufacturer Nvidia revealed that crypto mining hardware sales were much lower than expected in Q2 2018, claiming that the company does not expect to make significant blockchain-related sales for the rest of the year.
In July, major Taiwanese microchips producer TSMC once again decreased its annual revenue and capital expenditure estimates, following growth rate reduction in the crypto mining field, among other areas.