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How Much Bitcoin Did I Make with the Bitmain Antminer S19J Pro?
In today’s video, we are going to discuss the profitability of mining Bitcoin with the Bitmain Antminer S19J Pro, a powerful ASIC miner that produces 104 terahashes at 3068 watts. Over the last two weeks, we mined Bitcoin using this miner provided by Wadom.io, the largest distributor of Bitcoin mining equipment in the United States.
Our Bitcoin Mining Experience with the S19J Pro
Mining Bitcoin with the S19J Pro in our garage over the past two weeks has been challenging. The miner generated significant heat, causing the garage temperature to rise above 100 degrees Fahrenheit. However, we hope that this heating issue will be resolved when we move the miner to a dedicated mining shed.
After two weeks of mining, we earned 0.00042 Bitcoin. In order to evaluate the profitability of our mining operation, we need to take into account our electrical cost as well. So let’s dive into the numbers.
Expenses and Profitability
The cost per day of running the S19J Pro at a $0.05 kilowatt-hour electricity rate is $3.68, totaling $25 per week and $51.52 for two weeks. The daily, weekly, and biweekly profitability of the S19J Pro depends on the current price of Bitcoin and its network difficulty.
At Bitcoin’s all-time high of around $69,000, our miner made $41.60 per day, resulting in $291 per week and $582 for two weeks. However, as of May 21st, the value of Bitcoin dropped to around $29,500, pushing daily profitability down to $8.76 per day. Consequently, our weekly earnings dropped to $87.09 and our biweekly earnings totaled $122.64.
Break-Even Point and Future Outlook
When Bitcoin was at its all-time high, the break-even point (or ROI) for the S19J Pro was 312 days. However, with Bitcoin’s current value hovering around $29,500, the break-even point has increased to 905 days. So, is it still a good idea to invest in an ASIC Bitcoin miner like the S19J Pro?
If you can afford the upfront cost of the miner and believe in the long-term potential of Bitcoin, mining while network difficulty and yield are comparatively low can be a wise investment. With any luck, you can mine a substantial amount of Bitcoin and hold on to it until the price increases.
Conclusion: Should You Buy an S19J Pro?
Ultimately, whether or not you invest in an S19J Pro depends on several factors, such as your financial situation, belief in the future value of Bitcoin, and willingness to hold on to your mined coins. It is also essential to remember that the numbers presented in this video may not match your experience due to varying electricity rates and network difficulties.
This video is not intended as financial advice. It is crucial to do your research and make decisions based on your own calculations and beliefs. We have provided links to all the resources used in this video below so you can make an informed decision on whether to invest in an S19J Pro. If you found this video helpful, please consider subscribing and giving it a thumbs up. Happy mining!