S9 Resurrection: Higher Bitcoin Prices Allow Miners to Switch Outdated Mining Rigs Back On

S9 Resurrection: Higher Bitcoin Prices Allow Miners to Switch Outdated Mining Rigs Back On


With bitcoin prices hovering over a certain handle, a great number of old ASIC mining rigs manufactured years ago are starting to become profitable again. Reports indicate that in China, where the average electricity cost is around $0.06 per kilowatt-hour (kWh), miners are starting to leverage old miners manufactured by Canaan, Bitmain, and others. Chinese bitcoin miners dealing with electronic component price increases have found outdated rigs like the Antminer S9 (10-16 TH/s) are now reaping profits again.

The price of bitcoin (BTC) is making it easier for cryptocurrency miners worldwide to obtain a profit, especially after the recent mining difficulty drop that slid over 16% downwards.

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Additionally, BTC prices jumped from a closing price of $11,548 on October 13, 2020, and 30 days later on November 12, the price closed at a high of $16,305 per coin increasing 41.19%. Regional reports from China show that the high BTC prices between

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