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In the field of Bitcoin mining, there is probably no model more legendary than the Antminer S9. As soon as the Ant S9 mining machine was released in 2016, it was sought after by the market, and the original price of 9,700 yuan was immediately hyped up to more than 20,000 yuan. This magical machine even occupied half of the entire mining machine market in the following three years. However, with the rapid iteration of mining machine products and the fluctuation of Bitcoin prices, S9 also began its own ups and downs in mining. Antminer S9 13.5T side view Generally speaking, the biggest cost of Bitcoin mining is the electricity cost of the mining machine and hosting. The actual mining income is equal to the number of coins mined per day multiplied by the Bitcoin price of that day. If the actual profit is less than the electricity cost of the mining machine, then in theory the mining machine has reached the shutdown coin price and should no longer continue mining. Bitcoin approached $20,000 for the first time at the end of 2017, and amid the bull market, the price of S9 was driven up to more than 30,000 yuan per unit. But then Bitcoin fell below $7,000 in February 2018, and the price of S9 fell sharply. Those who once made their fortunes with S9 also suffered losses. Bitcoin price on December 12, 2018 In November 2018, the price of Bitcoin fell to around US$3,500, a drop of 50% compared to July. The S9 mining machine was facing the dilemma of being shut down because the mining income could not cover the electricity expenses. The fluctuation of the currency price made the S9 switch back and forth between power on and off repeatedly. During this period, Bitmain also released two upgraded versions of the S9 mining machine, S9K and S9SE, which extended the life of the S9 model. In December 2019, the coin price fell below 7,000 U.S. dollars. Based on the dry season electricity price of 0.37 yuan/KWh, the electricity bill of S9 reached the shutdown coin price again. Coincidentally, on March 2, 2020, the price of Bitcoin plummeted by 50%, and the S9 was once again facing the threat of shutdown. Fortunately, these were only short shutdowns, but the block reward halving event in May 2020 was what really kicked the S9 out of the market. In the early morning of May 12, 2020, the 630,000th block of the Bitcoin network was mined, and the Bitcoin network ushered in its third halving. The coinbase reward dropped from 12.5 BTC to 6.25, and the daily output was reduced by about 900 BTC. After the block reward was halved, low-computing-power models such as S9 were the first to be affected, once again breaking through the shutdown coin price. According to the calculation of the Biyin mining pool, even if all calculations are based on the flood season electricity price of 0.23 yuan, S9 mining is already in a loss-making state. Overnight, about 1.3 million S9s withdrew from the mining market. The S9 also started a big sale mode. Miners thought that the S9 was no longer useful and sold their S9s at low prices. S9 price at each stage The selling of S9 continued until the price of Bitcoin broke through US$20,000 in mid-December, and the fate of S9 reversed again. As the price of coins rose, S9's mining revenue began to turn from negative to positive and gradually increased. At this time, a large number of miners began to favor the S9 with a shorter payback period, and its price also rose along with the price of the currency, from a few hundred yuan to thousands of yuan. Recently, the price of S9 has been driven up to 2,000 yuan. S9 price on March 11, 2020 At present, the daily profit of S9 is about 21 yuan. Even if the selling price is 2,000 yuan, the payback period of 100 days is quite attractive. There are also miners who can get S9 at a lower price. On the other hand, due to the problems of chip and circuit board production capacity, the insufficient supply of mining machines has objectively led to more and more people being optimistic about S9. In fact, think back if you bought an S9 at a price of 1,500 yuan in May 2019, and it has been 690 days since then, the net profit is 37,881 yuan, which means you have paid back your money many times over. Biyin Mining Pool Historical Mining Calculator With the current BTC price exceeding 60,000 US dollars, the existing Bitcoin mining machines have basically been turned on. At present, the electricity cost of S9 accounts for less than 40%, and it seems that the shutdown of S9 is a long way off. Biyin Mining Pool Mining Machine Profit Ranking: S9 Mining Machine Profit Data So even though S9 is old, it is still powerful. The multiple reversals of S9’s fortunes have made everyone fully aware of the volatility of the market. Even machines that briefly reach the shutdown price cannot be sold immediately. Therefore, miners who already own S9 will probably not sell it easily in the future, and the story of the legendary "king of machines" will continue. |
