For my Daily today, I wanted to take a look at the current state of the mining market. At Delphi, we take pride in knowing which areas we excel at covering and which areas we should defer to the experts. So to make sure I didn’t make any unreasonable assumptions or claims, I called on our friend Harry Sudock from GRIID Infrastructure to proofread. I thank him and highly recommend you follow him on Twitter for more insights into the opaque world of Bitcoin mining. With that out of the way, let’s dive in.
It should go without saying that the profitability of mining farms can vary substantially depending on their energy costs and the hardware they use. Just yesterday, Bitmain announced a new ASIC model called the Antminer T19. This is the third model part of their 19 Series and the T19 comes with a listed Hash Rate of ~84 TH/S with a power consumption of ~3150W. It will cost $1749 and while orders for the new ASIC started today, shipments won’t start until the end of the month.
It’s not surprising to see Bitmain introduce a new product shortly after the halving, when miners are looking for more powerful machines. Just earlier this year, they introduced the market to the “S19” and “S19 Pro”. Both of which were supposed to start shipping in May 2020 but an increase in demand has apparently resulted in some delays on this front.
Let’s take a quick st