FameEX Hot Topics | Unveiling the Ascendancy of Three Prominent Manufacturers in Bitcoin Mining of 2023: A Closer Look at 18 Lucrative ASIC Devices

As of mid-May 2023, recent data suggests that there are currently 18 application-specific integrated circuit (ASIC) devices designed specifically for bitcoin mining that remain profitable, considering the current bitcoin exchange rates. The bitcoin mining industry is currently dominated by three major ASIC manufacturers, mainly due to limited competition in the fabrication industry.

Presently, the average hashrate of the Bitcoin blockchain is approximately 353.9 exahash per second (EH/s) over the last 2,016 blocks. On May 2, 2023, at block height 787,895, the network achieved an unprecedented peak of 491.15 EH/s. Meanwhile, the price of bitcoin (BTC) has consistently stayed slightly below the $27,000 mark. Real-time data from asicminervalue.com reveals that there are currently 18 profitable SHA-256 ASIC miners in operation, taking into account the current BTC exchange rates.

Despite expectations of numerous ASIC manufacturers developing advanced mining rigs in 2023 due to the high value of BTC and the increasing hashrate, the market remains predominantly controlled by three major players: Bitmain, Microbt, and Canaan. These manufacturers exclusively focus on designing mining rigs specifically for bitcoin extraction. All 18 leading ASIC bitcoin miners capable of operating with SHA-256 and generating profits at present originate from these three manufacturers.

The most profitable ASIC bitcoin miner available in 2023 is the Bitmain Antminer S19 XP Hydro, with a hashrate of 255 terahash per second (TH/s). Bitmain, an industry veteran since 2013, has established itself over the years, manufacturing 10 out of the top 18 ASIC miners currently in use. Considering the current BTC exchange rates and an electricity cost of $0.12 per kilowatt hour (kWh), the S19 XP Hydro is estimated to yield a daily profit of approximately $9.29.

The second most lucrative ASIC rig is the Antminer S19 XP, boasting a hashrate of 140 TH/s. It is closely followed by Microbt's Whatsminer M56S, with a hashrate of 212 TH/s, securing the position as the third most profitable bitcoin miner on the market. The daily profit projections for these two miners are approximately $4.82 and $4.44, respectively.

Additionally, the Antminer S19k Pro, with a hashrate of 136 TH/s, and the Antminer S19 Pro+ Hydro, with a hashrate of 198 TH/s, rank as the fourth and fifth most profitable ASIC mining rigs. Their estimated daily profits range from $3.40 to $3.70. Canaan's Avalon A1366, producing 130 TH/s, claims the fifth spot and is projected to generate a daily profit of $3.17 at an electricity cost of $0.12 per kWh.

When considering the electricity cost of $0.12 per kWh, a total of 18 mining devices are currently profitable. However, if the electricity rate drops below $0.12 per kWh, a broader range of machines with lower terahash outputs become financially viable.

While the global average electricity rate typically stands around $0.14 per kWh, several countries, including Iran, Cambodia, Afghanistan, Belarus, Cape Verde, Brazil, Central African Republic, Bhutan, and Azerbaijan, among others, offer electricity rates ranging from $0.01 to $0.05 per kWh. These lower rates contribute to the increased profitability of bitcoin mining in those regions.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.