Older and mid-priced mining rigs such because the Antminer S19 XP+ Hydro, Whatsminer M60S, and Avalon A1466I have already exceeded the shutdown threshold, and even newer S21 items are reportedly nearing the sting of survival.
profitability cliff
The Bitcoin mining business is going through extreme income strain this week as a mix of falling cryptocurrency costs and excessive community problem pushed a number of mining rigs into the purple. In line with Antpool's newest information, present market situations have pushed a number of {hardware} fashions above their “shutdown worth.”
Based mostly on typical electrical energy prices of $0.08 per kilowatt-hour, the information reveals a tricky image for older and mid-range {hardware}. In line with Antpool, once-mainstream fashions such because the Antminer S19 XP+ Hydro, Whatsminer M60S, and Avalon A1466I are now not worthwhile to function.
The plunge in profitability was triggered by Bitcoin hitting a multi-month low of simply over $74,500 on February 2nd. Since then, digital property have proven a gradual restoration and remained robust, however the harm to the stability sheets of small companies is evident. This latest decline indicators a big interval of cooling out there, with Bitcoin presently down greater than 10% because the starting of the 12 months.
Bearish outlook continues
Though some merchants are searching for a 'bounce' at present ranges, market sentiment stays fragile. A refrain of analysts has begun to recommend that this will not be the decision. Some predictions recommend that Bitcoin may check the psychological threshold of $50,000 and the downtrend may proceed.
On the identical time, strain for extra fashionable {hardware} is rising. The Antminer S21 collection (together with S21, S21+, and S21 Hyd.) is on the point of viability. As of February 3, 2026 at 6:00 PM EST, Bitcoin is buying and selling close to $75,000, with these machines approaching the crucial shutdown vary of $69,000 to $74,000.
A latest report from Cryptoquant famous that the “Miner P&L Sustainability Index has fallen to its lowest studying in 14 months” and stated that miners at the moment are “extraordinarily underpaid” for the computing energy they supply to the community.
Whereas many carriers are contemplating going “unplugged,” the newest era of high-performance {hardware} stays worthwhile. A part of Bitmain's flagship collection that started delivery earlier this 12 months, the Antminer U3S23H and Antminer S23 Hydro boast considerably decrease shutdown costs estimated at over $44,000. These excessive hashrate items are presently the one fashions that generate wholesome income each day as a consequence of their superior vitality effectivity.
The disaster comes at a troublesome time for the business. The latest winter storms throughout North America have already compelled some giant miners to reduce operations to guard the ability grid. Moreover, Bitcoin's community problem remains to be close to historic highs, though it decreased by simply 1% to 146.4 trillion in early 2026.
learn extra: Cryptocurrency finds US winter storm is impacting Bitcoin mining networks
As Bitcoin continues to commerce effectively beneath its October 2025 excessive, the business is intently monitoring whether or not additional worth declines may trigger a mass exodus of hashrate and in the end result in a downward adjustment in community problem.
Ceaselessly requested questions 💡
- Why are miners struggling proper now? Because of the drop in Bitcoin costs and excessive community problem, many rigs have fallen beneath the shutdown threshold.
- What {hardware} is most affected? Older intermediate fashions akin to Antminer S19 XP+ Hyd, Whatsminer M60S, and Avalon A1466I are presently unprofitable.
- Are there any rigs which might be nonetheless worthwhile? Sure, new high-efficiency items just like the Antminer U3S23H and S23 Hyd are nonetheless viable with end-of-sale costs close to $44,000.
- What are the prospects for the miners? Analysts have warned that Bitcoin may check $50,000, resulting in additional shutdowns and a drop in hashrate.
