In the dynamic world of Bitcoin mining, efficiency is the watchword. Every Joule of energy counts, and choosing the right miner can make the difference between a profitable operation and one that struggles to stay afloat. For this reason, we have put some of the most performing models on the market under the lens, comparing their performance under real and controlled conditions. And not only that: we will also take a look at the near future, with a preview of what awaits us!
Get ready, because we are about to delve into the intricacies of hashpower, energy consumption, efficiency and purchase value, with charts and numbers that will give you a clear vision of who wins the battle for the best TH/s per Watt ratio and the best investment.
Our Methodology: Transparency and Precision
Before diving into the data, it is essential to understand how we conducted our tests. We monitored all miners simultaneously over the same time frame, ensuring identical environmental conditions for each one. No tricks, no magic: just pure and raw data.
For energy consumption detection, we relied on our trusted PDUs (Power Distribution Units), which provided us with precise and real-time readings. Performance data, namely the hashpower generated, was retrieved directly from our proprietary monitoring software, BioCCC, which allowed us to have a granular and detailed view of each machine’s fluctuations.
For cost analysis, we considered our current price list for available miners and the pre-order price communicated for future releases. It is important to emphasize that, due to market fluctuation issues and to maintain analysis clarity, we will not reveal the exact prices of all models, but we will reason in terms of cost percentage in relation to efficiency, to give you a clear perspective on potential return on investment. It is worth remembering that installing custom firmware like Braiins does not alter the machine’s base price; price differences in our tests are dictated by the model and factory version.
In short, we put the miners in a sort of technological “big brother,” observing them 24 hours a day to understand who was the true champion of efficiency and convenience.
The Ring Protagonists: Who’s Challenging with Hash Power?
We selected a roster of miners that represent the current technological vanguard in the sector, including models from Bitmain, Bitdeer and MicroBT, with different firmware configurations for some of them. And we added a “guest star” that will arrive in about six months! Here’s a summary of the contenders:
- Bitmain Antminer S19J Pro 104T FW Braiins
- Bitmain Antminer S19 XP 141T FW Braiins
- Bitmain Antminer S21 200T FW Braiins
- Bitmain Antminer S21 200T FW Stock
- Bitmain Antminer S21 Pro 234T
- Bitmain Antminer S21 XP 270T
- Bitdeer Sealminer A2 230T High Performance Mode
- MicroBT Whatsminer M60S
- Bitmain Antminer S23 318T (Announced, with estimated efficiency and pre-order price)
Detailed Performance Analysis: Hashpower, Consumption, Efficiency and Cost/Efficiency Ratio Comparison
Now, let’s get to the numbers that matter. Below you will find a unique summary table with the average values for Hashpower (TH/s), Energy Consumption (kWh) and Efficiency (J/TH) for each miner, plus an indication of their relative cost in relation to efficiency.
| Model | Average Hashrate (TH/s) | Average Consumption (kWh) | Average Efficiency (W/TH) | Cost/Efficiency Ratio (Indicative) |
|---|---|---|---|---|
| Bitmain Antminer S19J Pro 104T FW Braiins | 112.67 | 3.23 | 27.99 | Comparison baseline |
| Bitmain Antminer S19 XP 141T FW Braiins | 137.38 | 3.00 | 21.50 | About +15% compared to S19J Pro, but with better efficiency |
| Bitmain Antminer S21 200T FW Braiins | 197.45 | 3.52 | 17.58 | Significantly more expensive than S19s, but with markedly superior efficiency |
| Bitmain Antminer S21 200T FW Stock | 204.35 | 3.79 | 18.36 | Slightly more affordable than the Braiins version, while maintaining high performance |
| Bitmain Antminer S21 Pro 234T | 238.45 | 3.99 | 16.59 | Similar to S21 200T FW Stock, but with greater power |
| Bitmain Antminer S21 XP 270T | 273.81 | 3.66 | 13.21 | The most expensive among current ones, but by far the most efficient |
| Bitdeer Sealminer A2 230T High Performance Mode | 253.90 | 4.36 | 17.08 | Competitive price compared to the efficiency offered |
| MicroBT Whatsminer M60S | 191.42 | 3.65 | 19.03 | Cost similar to S19s, but with notably superior hashrate and efficiency |
| Bitmain Antminer S23 318T (Estimated) | 318 | 3.50 (Estimated) | 11.00 (Estimated) | Positioned as a premium investment, promising revolutionary efficiency. |
Note: Cost ratios are indicative and based on an internal comparison between the considered models, with the Bitmain Antminer S19J Pro 104T as the “Comparison baseline” for purchase cost. The estimated efficiency for the S23 318T is based on announced specifications, and consumption is an extrapolation based on declared efficiency.
Insights on Results
- The Evolution of the S19 Series (Braiins Firmware): The S19J Pro 104T confirms itself as a solid and reliable machine. The S19 XP 141T with Braiins, despite being a model from the same series, makes a clear leap in efficiency quality. The custom firmware shows its ability to optimize performance, allowing you to get more from the machine, without altering its base cost.
- The New S21 Generation: A Quantum Leap: Here the music changes. Bitmain’s S21 series redefines the concept of efficiency. The S21 200T with Braiins offers exceptional efficiency, while the Stock version of the same S21 200T, despite having a higher nominal hashrate, presents slightly inferior efficiency. This reminds us that the “bigger number” is not always the only parameter to consider. Regarding the cost/efficiency ratio, S21 models are a significant investment, but their long-term earning potential, thanks to superior efficiency, makes them very appealing.
- S21 Pro 234T and S21 XP 270T: The Giants of Current Efficiency: These two models are the real champions among those currently available. The S21 Pro 234T is a power monster with extraordinary efficiency. But the true champion is the S21 XP 270T, which positions itself as the most efficient in the group, with an average of just 13.21 W/TH. Although it is the most expensive in terms of initial investment among miners already on the market, its W/TH ratio is so low that, with high energy costs, its amortization could be faster than one might think. It is a premium investment that promises a premium return.
- Bitdeer Sealminer A2 230T: A Worthy Competitor: The Sealminer A2 in High Performance mode defends itself admirably, offering excellent power and very competitive efficiency, close to that of the S21 series. Its cost, competitive compared to the efficiency offered, makes it a valid alternative to the more renowned Antminers.
- MicroBT Whatsminer M60S: The New Arrival (and Affordable): The Whatsminer M60S fits into a price range similar to S19 models, but offers markedly superior hashrate and, especially, efficiency (19.03 W/TH). This makes it an extremely interesting option for those seeking a significant upgrade without having to invest the amounts required by the most performing S21 models. It is an excellent balance between cost and efficiency.
- A Look at the Near Future: Antminer S23 318T – The Next Level of Efficiency (with a Top-Tier Price): The announcement of the Antminer S23 318T projects us into a near future where efficiency will reach even more amazing levels. With an estimated efficiency of only 11 J/TH, this miner promises to be a real game-changer. It represents a leading investment, positioning itself in a high cost range, but its revolutionary efficiency suggests unprecedented earning potential and operational cost optimization. It is clear that the race for efficiency does not stop, and companies are already working to surpass current records. This means that, while current models are excellent, technology continues to evolve rapidly, making it crucial to stay updated.
Conclusion: The Future is (Increasingly) Efficient and Choice is Crucial
Analyzing the data, a clear and unequivocal trend emerges: efficiency in Bitcoin mining is reaching increasingly impressive levels. The new generation of miners is raising the bar higher and higher, offering performance with incredibly reduced energy consumption. And with the S23 on the horizon, we can expect further giant steps.
It is essential to balance the initial investment with long-term efficiency. A more expensive but significantly more efficient miner could amortize more quickly in a context of high energy prices. Conversely, a miner with a more contained purchase cost and good efficiency can represent an excellent entry point for those who want to start or expand their operations with a more limited budget. Remember, custom firmware can optimize performance, but the starting point is always the machine itself.
In summary, the miner market is constantly evolving, and competition drives manufacturers to innovate constantly. For miners, this translates into ever-greater opportunities to optimize their operations and maximize profits. The best choice will always depend on your budget, energy cost, and return on investment expectations. We will continue to monitor the market and provide you with detailed analyses to help you navigate this fascinating universe. Stay tuned!