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25 sats \ 1 reply \ @rijndael 18 Nov 2022 \ parent \ on: The first heater that mines bitcoin bitcoin
Where are you finding $60 s9s?
They are no longer profitable even at $0.03 per kWh. No commercial miners can use them. That's nothing new, but what is new is the mining operators that had either decomissioned and warehoused them, or even left them in place but not powered on ... "just in case" the price rebounded are now liquidating them as they need the cash.
BitFarms just released a quarterly statement and simply wrote off their remaining S9s as they weren't worth the effort of selling them even:
The remaining Antminer S9 miners were not sold within 12 months since being classified as held for sale in 2021 due to the decline of the BTC price during the nine months ended September 30, 2022. As a result, these miners were written off and an impairment loss of $432 was recognized in profit or loss under Impairment on equipment and construction prepayments, property, plant and equipment and right-of-use assets.
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