4th Tier
In this interval, mining machine cooling technology shows diversified characteristics, with performance differences of different cooling methods becoming prominent. Bit Mainland's immersion cooling models perform outstandingly, where S21 XP Immersion achieves daily earnings of $15.12 with 300 TH/s computing power; the same series S21 Immersion, despite slightly higher computing power at 301 TH/s, has daily earnings of $14.45. Microbt's M66S contributes daily earnings of $14.31 with 298 TH/s computing power; Bit Mainland's S21e Hyd outputs 288 TH/s computing power, corresponding to daily earnings of $14.03. S19 XP+ Hyd model appears twice in this interval, obtaining daily earnings of $14.00 with 293 TH/s computing power, and daily earnings of $13.33 with 279 TH/s computing power. In air-cooled models, S21 XP generates daily earnings of $13.61 with 270 TH/s computing power, with Microbt's M66 on both sides - achieving daily earnings of $13.26 with 280 TH/s computing power.
Jianan's immersion model Avalon A1566I outputs 261 TH/s computing power, with daily earnings of $12.69; Bit Deer's Sealminer A2 Pro Air reaches 255 TH/s computing power scale. Bit Mainland's S19 XP Hyd (257 TH/s computing power, daily earnings of $12.06) and S21 Pro (234 TH/s computing power, daily earnings of $11.63) continue to maintain stable performance in this interval; followed by Microbt's M53S, achieving daily earnings of $11.55 with 260 TH/s computing power. Bit Mainland's S21+ (235 TH/s computing power, daily earnings of $11.51) is positioned between Microbt's M60S++ (226 TH/s computing power, daily earnings of $11.13) and Bit Deer's Sealminer A2 - the latter obtaining daily earnings of $11.07 with the same computing power scale.
Jianan's Avalon A1566I immersion mining machine (left) and Jianan's air-cooled Avalon A15Pro (right)
Bit Mainland's S21+ appears again in this interval, harvesting daily earnings of $11.02 with 225 TH/s computing power; liquid-cooled model T19 Pro Hydro provides 235 TH/s computing power, with daily earnings of $10.89. Auradine concludes this tier with Teraflux AT2880, corresponding to daily earnings of $10.78 with 222 TH/s computing power; followed by Jianan's Avalon A15Pro-218T (218 TH/s computing power, daily earnings of $10.64), Bit Mainland's S21+ (216 TH/s computing power, daily earnings of $10.58), and Microbt's M60S+ (212 TH/s computing power, daily earnings of $10.33).
5th Tier
Despite being in a relatively low daily earnings interval, mining machines in this tier maintain robust energy efficiency under electricity prices of $0.02 per kilowatt-hour. Microbt's M33S++ achieves daily earnings of $10.28 with 242 TH/s computing power; Jianan's Avalon A15XP-206T outputs 206 TH/s computing power, corresponding to daily earnings of $9.96. Microbt's liquid-cooled model M53 harvests daily earnings of $9.88 with 230 TH/s computing power, while Bit Mainland's S21 achieves daily earnings of $9.70 with 200 TH/s computing power.
Microbt's M56S generates daily earnings of $9.40 with 212 TH/s computing power, slightly higher than Jianan's Avalon A15-194T - the latter achieving daily earnings of $9.29 with 194 TH/s computing power. Bit Mainland's T21 outputs 190 TH/s computing power, with daily earnings of $9.08; Microbt's M60S contributes daily earnings of $8.93 with 186 TH/s computing power. Jianan's Avalon A1566 adds 185 TH/s computing power, corresponding to daily earnings of $8.88; the closing model of the top 50 profitable machines is Bit Mainland's S19 Pro+ Hyd, achieving daily earnings of $8.65 with 198 TH/s computing power.
Although these models do not match the absolute earnings scale of high-tier equipment, they still occupy an important position in niche markets through their adaptability to low electricity price environments and stable energy efficiency output, providing practical choices for small and medium-sized mining farms seeking controlled risk.
Liquid Cooling Dominance and Chip Revolution
In the top 50 profitable mining machines, liquid-cooled equipment demonstrates overwhelming advantages, occupying 17 seats in the Top 20, with Bit Mainland exclusively holding 9 models through its S21 Hydro series, forming a significant technological dominance. This leading position stems from three core technological innovations:
First, in thermal conductivity efficiency, liquid cooling solutions precisely design heat transfer medium circulation, reducing chip operating temperature by 42℃, directly promoting computing power stability to 99.3%, significantly reducing computing power fluctuation losses due to overheating;
Second, in energy recycling dimension, the mining farm's integrated waste heat heating system raises comprehensive energy efficiency to 85%, effectively offsetting 15% of electricity costs through energy cascade utilization, building a cost competitive barrier;
Third, in chip density optimization, Bit Mainland's BM1387 (6nm process) and Jianan's Avalon A1566 (5nm process) chips achieve 28% transistor count increase per wafer area through advanced process technology, reducing silicon cost per TH computing power by $0.17, optimizing the profit model from hardware source.
Meanwhile, semiconductor technology is approaching physical performance limits: Antminer S21+ produced using TSMC's 3nm process has compressed energy efficiency ratio to 16.5 J/TH, while test data of 2nm experimental line samples shows potential to break through the 12 J/TH technical threshold. This technological evolution trend means that within the next two years, mining machine technological iteration cycles will shorten from the current 12 months to 8 months, accelerating market elimination of outdated generation equipment by 40%, further intensifying industry technological competition and equipment update pressure.
Ecological Positioning of Head Manufacturers
In the profitable mining machine market landscape, technological advantages and market shares of head manufacturers show significant differentiation:
Bit Mainland occupies 46% of the profitable list with 23 models, forming a market monopoly, with its S21 series liquid-cooled mining machines becoming the core selection for super-computing mining farms due to outstanding computing power stability and energy efficiency performance;
MicroBT has 15 devices entering the profitable list, with its M60/M60S series achieving rapid penetration and market share expansion in the North American market through mature immersion cooling solutions;
Jianan Technology's 6 Avalon models focus on energy efficiency balance strategy, relying on optimized hardware architecture and operational models to achieve 17% month-on-month growth in self-operated mining farm computing power;
Bit Deer and Auradine precisely cut into the high-end market with 4 and 2 devices respectively, with Auradine's Teraflux series becoming a strong dark horse in the field through differentiated liquid cooling technological innovation.
From geographical distribution, global computing power layout further confirms the core logic of energy arbitrage: North American mining farm hosting electricity prices remain in the $0.04–0.06 per kilowatt-hour interval, while project electricity prices in regions with energy policy tilt like Ethiopia and the Middle East are as low as $0.03 per kilowatt-hour. This significant electricity price difference drives head enterprises like Jianan Technology to prioritize deploying 75% of new computing power in low electricity price areas, building a profitable moat through energy cost optimization.
Conclusion
When the Bit network's computing power reached a historical peak of 921 EH/s, the daily revenue per terahash (Hash Price) has sharply dropped from $0.12 in 2024 to $0.049. In this brutal market environment with continuously narrowing profit margins, the mining community must establish a triple-core defense system to ensure survival:
Establish energy cost anchors. By signing long-term nuclear power supply agreements and participating in hydroelectric futures trading, lock in electricity costs below $0.03 per kilowatt-hour for a decade, building a solid foundation for profitability from the source;
Construct hardware redundancy mechanisms. Adopt a modular mining machine architecture, replace computing power boards in a gradient manner based on network difficulty growth curves, and achieve dynamic optimization of hardware assets;
Implement profit hedging strategies. Convert 20%–30% of daily output into BTC reserve assets, and use financial instruments like options to lock in profits, smoothing out market price fluctuation risks.
As the survival rule revealed by the industry's "selling by weight" pain of mining machines in 2022 demonstrates — only by compressing computing power costs to the lowest 10% of the entire network can one navigate through the bull and bear cycles of the cryptocurrency market. The top 50 profitable mining machines are not only the crystallization of chip technology and heat dissipation engineering innovations but also precise coordinates marking the global energy arbitrage map. As liquid cooling and immersion cooling solutions gradually replace traditional air cooling technologies, when 2nm process chips achieve a computing power throughput efficiency of 200 megahashes per watt, BTC mining is completing a paradigm shift from extensive energy consumption to a precise computing power thermodynamic engineering.
Twitter: https://twitter.com/BitpushNewsCN
Bitpush Telegram Community: https://t.me/BitPushCommunity
Bitpush Telegram Subscription: https://t.me/bitpush
