2024 Diff thread happy New Years.

[stompix]

S19 pro makes 25 cents a day at 6 cents per kWh, it is losing at 7 cents, so where did all those dozen hundreds of thousands s19s go? They can't be all mining at 5 cents, so why are they not off yet? To me, it is only a matter of time and thus this increase is not sustainable.

Maybe standing idle as the companies are bankrupt, maybe no sellers, maybe mining at a loss cause not mining is a bigger loss?
Finally saw offers at 2$/th/s, so maybe some are not even considering selling them at all and just keep mining as long as they can write off the losses?

We went down to 3.8 cents per th/s, at these prices not even a 25% drop would mean a thing.

And the diff is still keeping up, despite the 10% up last time and the current downtrend

Latest Block:   855516  (6 minutes ago)
Current Pace:   97.5921%  (733 / 751.09 expected, 18.09 behind)

[philipma1957]

historic lows per th and the diff actually got a tiny bit worse.

that is fucking very impressive.

https://newhedge.io/terminal/bitcoin/difficulty-estimator

Latest Block:   855548  (24 minutes ago)

Current Pace:   98.0076%  (765 / 780.55 expected, 15.55 behind)

Previous Difficulty:   82047728459932.75                           
Current Difficulty:   90666502495565.78                           
Next Difficulty:   between 88861541634731 and 89547993913386
Next Difficulty Change:   between -1.9908% and -1.2337%
Previous Retarget:   last Wednesday at 5:13 AM  (+10.5046%)
Next Retarget (earliest):   August 14, 2024 at 9:25 AM  (in 8d 18h 6m 30s)
Next Retarget (latest):   August 14, 2024 at 12:03 PM  (in 8d 20h 44m 19s)
Projected Epoch Length:   between 14d 4h 12m 1s and 14d 6h 49m 50s

hard to believe no shift in diff with prices at under 54k

maybe tomorrow or the next day

[alh]

historic lows per th and the diff actually got a tiny bit worse.

that is fucking very impressive.

............................................

hard to believe no shift in diff with prices at under 54k

maybe tomorrow or the next day

Actually I don't see anything crazy here at all. While there must be folks that are now "underwater" in terms of actual profit from mining, they may well not think it's permanent and see if they can make it up later (with a higher BTC price). Folks that are still "above water" might think they can drive out some weak miners and do better later. They can't adjust the price of BTC, but maybe they can get better transaction rates in the future?

Mining still remains a "queens race" to the bottom in terms of lowest cost for actual delivered hash rate. That means the most efficient hardware, lowest electric rates, stable surrounding government, and stable infrastructure costs and availability.

Eventually something will have to change, but for the next few months, it's all a "game of chicken". BTC is of course the wild card and affects all players pretty much the same way.

[philipma1957]

historic lows per th and the diff actually got a tiny bit worse.

that is fucking very impressive.

............................................

hard to believe no shift in diff with prices at under 54k

maybe tomorrow or the next day

Actually I don't see anything crazy here at all. While there must be folks that are now "underwater" in terms of actual profit from mining, they may well not think it's permanent and see if they can make it up later (with a higher BTC price). Folks that are still "above water" might think they can drive out some weak miners and do better later. They can't adjust the price of BTC, but maybe they can get better transaction rates in the future?

Mining still remains a "queens race" to the bottom in terms of lowest cost for actual delivered hash rate. That means the most efficient hardware, lowest electric rates, stable surrounding government, and stable infrastructure costs and availability.

Eventually something will have to change, but for the next few months, it's all a "game of chicken". BTC is of course the wild card and affects all players pretty much the same way.

From newhedge:

Latest Block:   855666  (4 minutes ago)

Current Pace:   97.8937%  (883 / 902.00 expected, 19 behind)

Previous Difficulty:   82047728459932.75                            
Current Difficulty:   90666502495565.78                            
Next Difficulty:   between 88758065374132 and 89352103800875
Next Difficulty Change:   between -2.1049% and -1.4497%
Previous Retarget:   last Wednesday at 5:13 AM  (+10.5046%)
Next Retarget (earliest):   August 14, 2024 at 10:10 AM  (in 7d 22h 36m 46s)
Next Retarget (latest):   August 14, 2024 at 12:27 PM  (in 8d 0h 53m 47s)
Projected Epoch Length:   between 14d 4h 56m 46s and 14d 7h 13m 46s

We are at 3.9 cents a th


So s21 200th or $7.80 a day burns 85 maybe 90 kwatts

So 8 cent power is $7.20 cost or  maybe break even
7 cent power is $6.30 cost or a small profit
6 cent power is $5.40 cost say 2 buck profit

But not sure how many s21s are on line as compared to

All s19s and t19s are lovers

I know some mines are 3 cent cost

So 100 th x 3.9 cents is $3.90

With 75 kwatts burnt at 3 cents is $2.25 power net 1.65 not counting  cooling labor infrastructure

We were over 400 eh before s21 launched

So 400eh is fully kind of fucked