Some weeks ago, MicroBT announced that they are working on a new ASIC for Bitcoin. The new miner is expected to have unmatched power efficiency (65 W/THs) and be priced low enough to compete with the newest model Innosilicon has to offer. With preorders now being open, I wonder if this miner is worth the money. Let’s try to answer that here.
MicroBT WhatsMiner M10 Specs
The WhatsMiner M10 is based on the 16nm technology, which is pretty surprising taking into account its superior power efficiency. We would expect someone as big as Bitmain release something like the M10, so it’s good to see smaller ASIC manufacturers joining the race with competent models.
SHA-256 Hashrate: 33TH/s (+/- 5%)
Price: $1,488.00 USD
Power Consumption: 2145 W (+/- 10%)
Power Efficiency: 65 W/THs
Chips: 315 * 16nm ASIC
Power Supply: WhatsPower P5, 2500w, 93% efficiency 220V, Included
Operating Temperature: -5C ~ 40C
Dimension: 34cm x 20cm x 17cm
Weight: 8.55 kg
MicroBT WhatsMiner M10 Profitability
As for today, the miner generates 0.03466 BTC a month. This means that with free electricity, it would take about 8 months for the miner to break even. In reality, that number is more like 14-18 months, taking network difficulty growth into account.
With a rate of 12 cents per KWh (which is the average for the States anyway), it would take the miner three years to break even, difficulty growth not taken into account. You get the idea how it will be in reality.
Also, do keep in mind that the ASICs will begin shipping December 20-30, in two months from now. By then, the difficulty is estimated to rise by at somewhere between 12-25% (estimate based on how it was going past months). In fact, that increase might be bigger because of the new miners by Innosilicon that are being actively sold and added to the network. This means that the 0.03466 BTC mined a month might not the case for the WhatsMiner M10.
WhatsMiner M10 vs Innosilicon T2 Turbo +32T
In case you have missed it, Innosilicon is now selling a miner that has similar specs and price than the WhatsMiner M10. The M10 is slightly more efficient than the T2T+32T – 65W/THs versus 68W/THs. Price-wise, the M10 also offers slightly more hashrate for the money – 45$/THs versus 49$/THs.
On the other hand, the Innosilicon ASIC has a huge advantage over the M10, which is the release date. In the world of mining, network difficulty increases every month, which is why release date often means more than raw specs. While the WhatsMiner M10 is slightly better than the T2T+32T, the Innosilicon ASIC started shipping their units two months earlier than the M10. If you order one T2T+32T now, it will be shipped to you in five days.
As mentioned above, Bitcoin network difficulty is expected to increase by at least 15% in the next two months. This makes me wonder – would you rather wait for the WhatsMiner M10 or go for the slightly less efficient Innosilicon T2 Turbo +32T and give yourself two extra months of mining?
Just like with the Innosilicon Innosilicon T2 Turbo +32T, the WhatsMiner M10 is oriented towards mining farms. High power consumption is the reason why this ASIC works the best in mining farms with free or very cheap electricity. I don’t see how anyone can profit with it while having to pay 12 cents per KWh. That being said, time will show.
Disclaimer: This is not financial advise, I am not a financial advisor, this is for educational purposes only. If you want to invest in cryptocurrency please do your own research and invest at your own risk, 1stMiningRig is never liable for any decisions you make. 1stMiningRig may receive donations or sponsorships in association with certain content creation. 1stMiningRig may receive compensation when affiliate/referral links are used.
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