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Top Ethereum and Bitcoin Miners Still Making Profits Despite 40% Price Drop from ATH

The price of Bitcoin (BTC) is down around 40% and Ethereum (ETH) down 37% since reaching the all-time high (ATH) they set in November 2021. Despite the price drop, miners Bitcoin and Ethereum mining are still generating decent profits as both networks have seen the hashrate hit ATH in 2022.

Bitcoin’s hashrate has grown above 200 exahash per second (EH/s) while that of Ethereum is 1.12 petahash per second (PH/s). In mid-April 2022, Ethereum saw profits outperforming Bitcoin from the mining sector.

Top Ethereum Miners in Mid-April 2022
Top Ethereum Miners in Mid-April 2022

For example, an Ethereum Innosilicon A11 Pro, processing the Ethash algorithm at 1.5 GH/s with an electricity cost of $0.12 per kilowatt hour (kWh) could generate an estimated profit of $51.58. la every day. However, it was purchased directly from Innosilicon at a price of $18,888 or 0.468090 BTC, at the time of writing.

According to the company website, an Ethereum Innosilicon A10 Pro+ (0.7 GH/s) machine will cost $9,000 or 0.223042 BTC. After calculating the purchase price, one Innosilicon A10 Pro+ at 0.7 GH/s or 700 megahash per second (MH/s) can earn $25.28 per day.

Top Bitcoin Miners Currently Still Making Profits

The most profitable Bitcoin miner in mid-April 2022 is the Bitmain Antminer S19 Pro, a machine that processes the SHA256 consensus algorithm at 110 terahash per second (TH/s). At current prices, one Antminer S19 Pro will generate a profit of $13.74 per day.

Microbt’s Whatsminer M30S++ with 110 TH/s came in second place recording a profit of $13.52 per day and an electricity cost of $0.12 per kWh. At press time, the Antminer S19 Pro costs $9,460 while the Whatsminer M30S++ costs $7,997.

Top Bitcoin Miners in Mid-April 2022
Top Bitcoin Miners in Mid-April 2022

Just recently, Bitmain announced the launch of two new Bitcoin miners named Antminer S19 XP (140 TH/s) and Antminer S19 Pro + Hyd (198 TH/s). The S19 XP can generate a profit of $20.73 per day and electricity costs at $0.12 per kWh.

Meanwhile, the S19 Pro + Hyd can currently make $25.89 per day. In addition to Bitmain, Microbt has revealed a new Bitcoin miner named Whatsminer M50S (126 TH/s) and M50 (114 TH/s). According to both manufacturers, the S19 XP, S19 Pro + Hyd, M50S and M50 will be shipped in Q3 of this year.

Besides Ethash and SHA256, ASIC miners like Kadena, Scrypt and X11 also generate profits. Kadena mines KDA, while Scrypt can mine Litecoin (LTC), Dogecoin (DOGE), Digibyte (DGB) and some other devices. While the X11 machine can mine Dash (DASH), Cannabiscoin (CANN) and Ax (AX).

Kadena recorded an estimated profit of $50.05 per day and Scrypt recorded $51.11 per day. The top X11 series miners can generate a profit of $16.96 per day at current exchange rates at a cost of $0.12 per kWh of electricity.