Antminer S19 XP dropped in a bid to bring crypto miners back to profit

Phil Harvey said that this type of miner can typically last at least 36 months in a facility operated by their crypto company Sabre56. Interview

With the price of Bitcoin (BTC) moving at a very steady pace during the crypto winter, the return on investment (ROI) on a new mining device seems like a shot in the dark. But a mining expert explained there may be hope for miners to make a return to profit.

Phil Harvey, CEO of crypto advisory firm Sabre56, told Cointelegraph that there are factors to consider when checking the potential profit from mining devices. These are mining machine specs, costs, actual ROI and mining economics over time.

Analyzing the recently released Antminer S19 XP by mining rig vendor Bitmain, Harvey noted that in terms of specifications, it is the most efficient miner at the moment. In terms of costs, the crypto-mining expert pointed out that the current costs of mining machines are significantly lower than in recent months, especially if purchased directly from the manufacturer, estimating that they can reach around 5 $600 per machine.

As for what Harvey describes as true ROI, the consulting firm's CEO explained that using their company's database, which tracks miner earnings since the release of the first ASIC miner indicators so far show that large-scale miners can recoup their ROI in around 11 months.

On the other hand, considering electricity costs for retail miners, Harvey said it might take them 15 months to get their return on investment. He also explained that:

“These figures do not take into account possible leverage. In other words, miners who have paid double have to endure a payback period that is twice as long.”

Commenting on the longevity of the new device, the CEO said that in a facility they operate, this type of miner could last at least 36 months.

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