SUMMARY
The Bitmain Antminer S21 is a high-performance mining machine designed for Bitcoin and Fractal Bitcoin mining, offering a hash rate of 200 TH/s and an efficiency of 17.75 J/TH. Its profitability is attractive, especially in regions with low electricity costs, yielding a net profit of approximately $7.41/day with electricity at $0.04/kWh. The machine’s dual-coin mining capability provides revenue diversification, and its competitive specifications ensure a reasonable payback period. However, its long-term success will depend on market conditions, mining difficulty, and energy costs.
Technical Specifications
| Manufacturer | Bitmain |
|---|---|
| Model | Antminer S21 (200Th) |
| Also known as | Antminer S21 200T |
| Release | Feb 2024 |
| Size | 400 x 195 x 290mm |
| Noise level | 75db |
| Fan(s) | 2 |
| Power | 3550W |
| Voltage | 12 |
| Interface | Ethernet |
| Temperature | 5 – 40 °C |
| Humidity | 5 – 95 % |
Comparing Bitmain Antminer S21 with Other Top BTC Miners
Below is a detailed comparison and analysis of the machines shown in the table, evaluated from the Antminer S21 (200TH) perspective:
| Model | Hashrate (TH/s) | Power (W) | Efficiency (J/TH) | Price ($) | Price per TH ($/T) | Payback Period (Days) | Net Profit/Day ($) | Availability |
|---|---|---|---|---|---|---|---|---|
| Antminer S21 | 200 | 3550 | 17.75 | $3,300 | $16.50 | 532 | $6.20 | Out of Stock |
| Antminer S21+ | 216 | 3564 | 16.5 | $3,629 | $16.80 | 521 | $6.97 | January Batch |
| Canaan Avalon A15 XP | 206 | 3667 | 17.8 | $3,208 | $15.57 | 518 | $6.19 | In Stock |
| WhatsMiner M61 | 196 | 3138 | 19.0 | $2,784 | $14.20 | 453 | $6.15 | In Stock |
1. Performance
- Hashrate: Antminer S21 delivers 200 TH/s, which is:
Higher than WhatsMiner M61 (196 TH/s). Lower than S21+ (216 TH/s) and Avalon A15 XP (206 TH/s).
- Power and Efficiency: The efficiency of S21 is 17.75 J/TH, which is:
Worse than S21+ (16.5 J/TH), indicating slightly less energy efficiency. Better than WhatsMiner M61 (19.0 J/TH). Similar to Avalon A15 XP (17.8 J/TH).
2. Pricing and Cost-Effectiveness
- Price: S21 is priced at $3,300, which is:
Cheaper than S21+ ($3,629). More expensive than Avalon A15 XP ($3,208) and M61 ($2,784).
- Price per TH: S21’s price per TH is $16.50/T, which is:
Higher than M61 ($14.20/T) and Avalon A15 XP ($15.57/T). Slightly better than S21+ ($16.80/T).
3. Payback Period and Profitability
- Payback Period: S21’s payback period is 532 days, which is:
Slightly longer than S21+ (521 days) and Avalon A15 XP (518 days). Significantly longer than M61 (453 days).
- Daily Net Profit: S21 generates $6.20 per day, which is:
Higher than M61 and Avalon A15 XP. Lower than S21+ ($6.97).
4. Availability and Delivery
- Availability: S21 is currently out of stock, making it less accessible. S21+ is available for the January batch, while Avalon A15 XP and M61 are in stock and ready for purchase.
From the Antminer S21 (200TH) perspective:
- Strengths:
Better efficiency than M61 and comparable to Avalon A15 XP. A balanced choice in terms of profitability.
- Weaknesses:
Slightly lower cost-effectiveness compared to Avalon A15 XP and M61. Currently unavailable, limiting purchase options.
- Recommendation: If S21 becomes available, it can be a balanced option for mining. However, given the current stock and performance, Canaan Avalon A15 XP offers better cost-efficiency and performance, while WhatsMiner M61 is a good choice for those prioritizing a shorter payback period and lower upfront cost.
BTC Prices
All-Time High (ATH):
Bitcoin’s highest price was $108,135, recorded on December 17, 2024 (23 days ago).
Current price is 13.90% lower than its ATH.
All-Time Low (ATL):
Bitcoin’s lowest price was $67.81, recorded on July 6, 2013.This represents a 137,198.06% increase compared to its ATL.
24-Hour Trading Volume:
Bitcoin’s trading volume in the past 24 hours was $64.57 billion, with a 2.80% rise compared to the previous day.
Market Capitalization:
Current market cap is $1.84 trillion, ranking Bitcoin #1 in the cryptocurrency market.
Fully Diluted Valuation (FDV):
FDV is estimated at $1.95 trillion, assuming the maximum supply of 21 million BTC is in circulation.
Bitcoin remains the dominant force in the cryptocurrency market, demonstrating consistent growth and market leadership.
Bitmain Antminer S21 Profitability
- Daily Revenue: $10.82 (0.00011599 BTC + 0.01075399 FB).
- Electricity Cost: $3.41/day (at $0.04/kWh).
- Net Profit: $7.41/day.
- Payback Period: Approximately 445 days (based on a $3,300 machine price).
The Antminer S21 is profitable in regions with low electricity costs. The combined revenue from BTC and FB enhances its attractiveness, with a solid return on investment within a reasonable time frame.
Future Perspective of Bitmain Antminer S21
Efficiency and Competitiveness:
With a power efficiency of 17.75 J/TH, the S21 remains competitive for its power consumption relative to its hash rate. However, future models from Bitmain or competitors may surpass this efficiency, requiring miners to evaluate whether the S21 can remain profitable in increasingly demanding mining conditions.
Profitability Amid Rising Difficulty:
As Bitcoin mining difficulty continues to increase, the S21’s profitability may decline unless its power efficiency is significantly better than upcoming models. Regular upgrades to mining infrastructure may be necessary to maintain competitive profitability.
Dual Coin Mining:
The S21’s ability to mine Bitcoin (BTC) and Filecoin (FB) offers a diversified revenue stream, which could provide some resilience against fluctuations in BTC prices. However, the future value of FB and its demand will significantly impact this secondary revenue source.
Electricity Cost Sensitivity:
With electricity being a major operational cost, the S21 is best suited for regions with access to low-cost energy. As global energy prices fluctuate, miners may need to focus on locations with stable or renewable energy sources to ensure long-term profitability.
Sustainability Considerations:
The growing emphasis on green mining and renewable energy usage may benefit miners who adopt the S21 in conjunction with renewable energy solutions. Such setups could enhance profitability and compliance with emerging regulations.
Resale Value:
As newer models are released, the resale value of the S21 could decline. Miners should consider the balance between operational profitability and the potential to recoup costs through resale.
Regulatory Changes:
Increasing regulatory scrutiny on Bitcoin mining may affect operational costs or availability of resources for the S21. Strategic planning to adapt to such changes will be crucial for long-term operations. The Antminer S21 is currently a robust and profitable option, especially for miners with access to low-cost electricity. However, its long-term viability will depend on advancements in mining hardware, energy efficiency, and market conditions. Diversification of mining operations and the adoption of sustainable practices could enhance its future potential.
