Based on Bitcoin (BTC) mining difficulty and an electricity cost of $0.08 per kilowatt-hour, many ASIC devices are approaching critical “shutdown price” levels.
With Bitcoin trading at $78,997 at the time of writing, profitability is severely hampered, especially for low-efficiency or older generation devices.
Looking at prominent models, devices like the Antminer S19 XP+ Hydro, WhatsMiner M60S, and Avalon A1466I are quite close to their shutdown price under current conditions. This increases the risk of miners operating in regions with relatively high electricity costs suspending their operations.
On the other hand, the shutdown prices for the newer generation Antminer S21 series are estimated to be in the $69,000–$74,000 range. For example, the shutdown price for the Antminer S21 model is approximately $76,353, while for variants like the S21e Hydro and S21+, this threshold is around $74,000. This suggests that a significant portion of the S21 series could move into unprofitable territory in the event of a potential pullback in Bitcoin price.
However, models with higher hash power and better energy efficiency still offer a safe margin. The Antminer U3S23H with 1160 TH/s and the S23 Hydro with 580 TH/s have a closing price of approximately $41,448. Similarly, the S23e U2H model is around $43,630. These devices continue to appear operationally profitable as long as the Bitcoin price remains above $44,000.
One of the weakest links in the table is the Whatsminer M63S model with 360 TH/s. The calculated closing price for this device is approximately $80,716. Considering the current Bitcoin price of $78,997, the model appears to be operating at a loss and has entered negative profitability territory.
