As bitcoin went past $9,000 mark for the first time in the last two months, hopes of miners using equipment which turned obsolete are finding some new lease of life again. The profitability, albeit low, is back on the cards.  The miner profitability index, which Poolln and <a href="https://www.f2pool.com/miners" target="_blank" rel="noopener">F2Pool </a>are keeping a track of has shown some interesting developments especially for old equipment such as Bitmain's Antminer S9. The index suggests that an average electricity cost of $0.05 per kilowatt-hour (kWh),  Bitmain's Antminer S9 and Canaan's Avalon A851 can generate a 10-20% gross margin.
<h2>Antminer s9 Comes Back to Life as Bitcoin Price Rises</h2>
For those who have turned their equipment more efficient by combining two Antminer S9s or reducing voltage to improve efficiency can almost double the gross margin to 30-40% if the current high price of bitcoin stays constant.

Majority of bitcoin mining <a href="https://coinshares.com/assets/resources/Research/bitcoin-mining-network-december-2019.pdf">occurs </a>in China, where the cost of electricity is cheap and friendly. With the rainy season on its way too, the electricity cost could be as low as 0.03 kWh, leading to further profits, not just for the newly equipped miners, but also users who equipments were considered of no use anymore.

According to Dmitri Ushakov, Chief commercial officer of BitRiver,  the high price of bitcoin right now would bring many old miners right back into the game and even Bitmain S9 equipment can provide decent profits.

However, as the bitcoin price is a topsy-turvy ride, so is its mining. Those who are using old equipment like Antminer s9 still need to find cheap electricity resources else they would not be able to keep up with the modern-day more cost-efficient models. The old mining model by March accounted for approx 20% of the mining network. The number keeps going down substantially as better equipment is in line to replace them.

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Old Mining Equipment like Bitmain's Antminer S9 Back to Being Profitable

Old Miners have found some new hope in their old mining equipment such as Antminer S9,as the bitcoin price went past the $9,000 mark.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Old Mining Equipment like Bitmain's Antminer S9 Back to Being Profitable

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