What will scrypt earnings look like after the L7 is released?

[enzogla]

So, in November this year (2021) Bitmain is releasing a new AntMiner called the AntMiner L7.

This thing costs $12,800 USD, runs at 9.5 Gh/s (9,500 Mh/s), only uses 3425 kWh of power & is around 16.5 kgs heavy.

To put that in perspective, it uses as much power as 4.28 AntMiner L3+ units, and produces as much hashing power as 18.8 AntMiner L3+ units.

Does anyone know how this will affect the scrypt mining scene?
Will this make the L3+ earn almost nothing or even cost more power than they make?
I have no idea what would happen, just want input from some others

[swogerino]

I just did run a calculator at minerstat website with the technical specifications of this device and with the actual market,merged mining LTC+DOGE it makes an estimating 203 USD dollar profit daily which is a bit less once you remove the power cost.I don't know what will happen either but if Bitmain will ship them in November 2021 it means they are "abusing" these devices right now mining for themselves and the situation can completely change in November 2021.

However I think that based on the calculation from minerstat this device can run well even after November 2021 but of course the daily earnings will be much lower than they are right now.

[philipma1957]

here is the best way to look at it.

https://www.coinwarz.com/mining/litecoin/hashrate-chart.  this was as high as 400 a coin coin is now 138 diff was

396 and now is 227


https://www.coinwarz.com/mining/dogecoin/hashrate-chart this was as high as 74 cents a coin coin is now 24 cents hash was

446 and is now 205





So  forget the L7 and consider that missing hash from above does it come back?

then add L7 which will come on at whatever speed.


so we could go to 600 hash for ltc
and we could go to 600 hash for doge.

punch that in and earnings drop 67% if price does not rise.

of course price could go back to 400 a coin for ltc

and to 74 cents for doge.

right now I earn 200 a day for my l3+ miners when I add LTC and Doge for my 19 l3+ miners. power deal is 1/2 the coins

So I make 100 bucks a day on basically 1 L7 worth of L3+.

 Do I think I will continue this from now until dec no I do not.

Should I sell all of them for 20k today maybe.

[enzogla]

I just did run a calculator at minerstat website with the technical specifications of this device and with the actual market,merged mining LTC+DOGE it makes an estimating 203 USD dollar profit daily which is a bit less once you remove the power cost.I don't know what will happen either but if Bitmain will ship them in November 2021 it means they are "abusing" these devices right now mining for themselves and the situation can completely change in November 2021.

However I think that based on the calculation from minerstat this device can run well even after November 2021 but of course the daily earnings will be much lower than they are right now.

Does Bitmain have a history of using their devices for maximum profit before they release them to the public? Does this mean that there won't be much of a change in difficulty when they are released to the public or?

here is the best way to look at it.

https://www.coinwarz.com/mining/litecoin/hashrate-chart.  this was as high as 400 a coin coin is now 138 diff was

396 and now is 227


https://www.coinwarz.com/mining/dogecoin/hashrate-chart this was as high as 74 cents a coin coin is now 24 cents hash was

446 and is now 205





So  forget the L7 and consider that missing hash from above does it come back?

then add L7 which will come on at whatever speed.


so we could go to 600 hash for ltc
and we could go to 600 hash for doge.

punch that in and earnings drop 67% if price does not rise.

of course price could go back to 400 a coin for ltc

and to 74 cents for doge.

right now I earn 200 a day for my l3+ miners when I add LTC and Doge for my 19 l3+ miners. power deal is 1/2 the coins

So I make 100 bucks a day on basically 1 L7 worth of L3+.

 Do I think I will continue this from now until dec no I do not.

Should I sell all of them for 20k today maybe.

I'd buy all yours for 20k if you were selling them 

[philipma1957]

If I had no partners. I would sell them.

But there are four of us.

We have

 Ltc/doge 10.5 gh

Eth gpus 3gh

sha 256 asics. 1.7 ph


Its work. But the gear did really well this year.

If we just let things chugg along we could do way better if coin prices bounce back.

We could likely get 100k for the gear ⚙️ but we have cheap power and it is paid off.

So selling is hard for us to do.

[FP91G]

So, in November this year (2021) Bitmain is releasing a new AntMiner called the AntMiner L7.

Bitmain wants to make money, so he needs to make sure that old ASICs become unprofitable in mining and all miners start buying new equipment.
Therefore, old ASICs will lose their relevance if the price of the coins that they mined does not increase.
New ASICs will start mining in early 2022

[adaseb]

Does Bitmain have a history of using their devices for maximum profit before they release them to the public? Does this mean that there won't be much of a change in difficulty when they are released to the public or?

Yeah usually what happens is we see some huge hashrate all of a sudden and then months later some state of the art ASIC is released by some manufacturer. So they are definately mining with it for a while and then release it for sales. In the past many of their "new' miners came with dust found on the heatsinks. They said its due to the dirty areas they are located in or the factory being messy but they probably mined with them.

So you can assume that they are mining right now with them and later will sell them so the difficulty shouldn't change by much however keep in mind they can still produce more of these units and there can be some other ASIC manufacture that can come out with a similar spec for Scrypt. So difficulty is very difficult to predict. No pun intended.

[enzogla]

Does Bitmain have a history of using their devices for maximum profit before they release them to the public? Does this mean that there won't be much of a change in difficulty when they are released to the public or?

Yeah usually what happens is we see some huge hashrate all of a sudden and then months later some state of the art ASIC is released by some manufacturer. So they are definately mining with it for a while and then release it for sales. In the past many of their "new' miners came with dust found on the heatsinks. They said its due to the dirty areas they are located in or the factory being messy but they probably mined with them.

So you can assume that they are mining right now with them and later will sell them so the difficulty shouldn't change by much however keep in mind they can still produce more of these units and there can be some other ASIC manufacture that can come out with a similar spec for Scrypt. So difficulty is very difficult to predict. No pun intended.

Dirt on the heatsinks and them selling it as new.. damn that's not very honest.. Is that just with Bitmain or also with WhatsMiner etc.?
Also, do you know how many of these units are being produced? Like tens of thousands? hundreds of thousands? or is there some place I can find this out?

Thanks for the information btw, really appreciate it.

[adaseb]

Dirt on the heatsinks and them selling it as new.. damn that's not very honest.. Is that just with Bitmain or also with WhatsMiner etc.?
Also, do you know how many of these units are being produced? Like tens of thousands? hundreds of thousands? or is there some place I can find this out?

Thanks for the information btw, really appreciate it.

This was years ago with I think the S7. I think there were a few members here who got their units and looked inside and they were full of dirt. When inquired about it, they just said its very dirty warehouse in China.

One way we could track the Bitmain sales was basically by looking at their BTC payment address, you could easily see how many units people ordered by the amount of BTC spent. I think phil used to track this back in the day. No idea if they still do it like that. Most likely each payment has a unique address these days. And many people can pay by fiat which might not be on the blockchain. So impossible to get the unit numbers. They will never release this info.

[philipma1957]

Dirt on the heatsinks and them selling it as new.. damn that's not very honest.. Is that just with Bitmain or also with WhatsMiner etc.?
Also, do you know how many of these units are being produced? Like tens of thousands? hundreds of thousands? or is there some place I can find this out?

Thanks for the information btw, really appreciate it.

This was years ago with I think the S7. I think there were a few members here who got their units and looked inside and they were full of dirt. When inquired about it, they just said its very dirty warehouse in China.

One way we could track the Bitmain sales was basically by looking at their BTC payment address, you could easily see how many units people ordered by the amount of BTC spent. I think phil used to track this back in the day. No idea if they still do it like that. Most likely each payment has a unique address these days. And many people can pay by fiat which might not be on the blockchain. So impossible to get the unit numbers. They will never release this info.

Yeah was easy to see when they accepted btc you could look at a btc addy you paid them in and follow it backwards they used to have like 4 addresses with 5000-30000 btc in them

They were holding 100,000 plus btc even when coins were at 15k in 2017

They are more clever now and who know how much they took in via bank transfer.  Or bag of cash money payments.

They sold old gear now and then.  But the biggest con they do is cloud mining.

I have written many posts of what they can do via cloud mining. Including shutting done 405 of the btc gear in the world .  while maintaining a 17 eh farm outside china.

this would mean:

 17000 x 0.0047 = 80 coins  daily when diff was 25.03
 17000 x 0.0090 = 153 coins daily with the current diff of 14.3

I can prove hash is shut down including all of viabtc's cloud mining which was done in partnership with bitmain.
I can prove bitmain said they have 10% of the world hash when they claimed it the worlds hash was 170eh so 17eh

I do not know how much is outside china.
But they were building a large farm in Texas (now sure if it was done)

Times are very interesting but

Just remember 1 btc = 1 btc



Just check it out right here

https://www.blockchain.com/btc/address/19oNXtgrEX9Lt6c7w3XXAxAWR2T7Ff7CiC