Mining Profitability Calculator
This calculator helps you determine if mining Bitcoin with your hardware choice will be profitable. Input your electricity costs and expected Bitcoin price to see monthly earnings and potential profit or loss.
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When you're starting out in Bitcoin mining, the first big question isn't about which coin to mine-it's whether to buy used or new mining hardware. It sounds simple: used is cheaper, new is more powerful. But in 2025, that choice can make the difference between turning a profit and losing money every month.
Back in 2020, you could buy an old Antminer S9 for $300, plug it in, and still make a few dollars a day. Not anymore. The Bitcoin network has gotten so much harder that efficiency isn’t just nice to have-it’s the only thing that keeps you alive. New ASIC miners today use less than half the power of models from just three years ago. If your machine isn’t among the top 10% most efficient, you’re already behind.
Why Efficiency Matters More Than Price
Let’s say you find a used Antminer S9 for $600. It looks like a steal. But here’s what that $600 really costs you:
- It only hashes at 14 TH/s
- It pulls 950 watts constantly
- It uses 95 joules per terahash (J/TH)-that’s the industry metric for efficiency
Compare that to the new Bitmain Antminer S21e XP Hyd 3U, priced at $17,210. It does 860 TH/s, uses 11,180 watts, and hits just 13 J/TH. That’s a 7.3x improvement in efficiency. In plain terms: for the same amount of electricity, you get over seven times more Bitcoin.
At $0.10 per kWh-which is average in Australia-your S9 will cost you $215 a month just to run. If you’re earning $180 in Bitcoin daily, that’s $5,400 a month in revenue. Sounds good? Not when $6,450 of that goes to power. You’re losing $1,050 a month. And that’s before repairs, cooling, or internet.
The S21e, on the other hand, uses $1,100 a month in electricity. But it earns $2,800 daily in Bitcoin. That’s $84,000 a month. After power, you’re still making $82,900. The math doesn’t lie: efficiency wins.
Hidden Costs of Used Hardware
Used miners don’t come with manuals. They come with problems.
On Reddit, a user named u/MiningMaster45 bought two used S9s in early 2025. One died after 11 months. The other kept failing fans. He spent $320 on replacement parts-more than half the original purchase price. He switched to a new S21 and hasn’t had a single hardware issue in 14 months.
Used miners often come with worn-out power supplies, clogged heatsinks, and degraded chips. Even if a seller says it’s "tested working," there’s no way to know how many hours it ran at 100% load. Mining hardware is like a car that’s been driven nonstop for five years-you might get lucky, but you’re betting on a gamble.
Community data from Bitcointalk.org shows used ASICs need 30-50% more maintenance than new ones. That’s 8-10 hours a week spent troubleshooting, cleaning, or swapping parts. For a new miner? Two to three hours. That’s not just time-it’s opportunity cost. You could be scaling your operation instead of fixing a broken fan.
Warranty, Support, and Deployment
New ASICs come with warranties. Bitmain now offers 180 days of coverage on all new models. If your miner dies within six months, they replace it. No questions asked.
Used miners? Most sellers offer 30 days, if that. Some don’t offer anything at all. And if your machine fails? You’re on your own. Finding a replacement fan for an S9 in 2025 isn’t easy. Suppliers are phasing them out. You might have to wait six weeks for a part-and by then, your mining rig is sitting idle.
Deployment is another factor. New miners arrive ready to go. Plug in the power supply, connect to your network, and you’re mining within 48 hours. Used units often need firmware updates, BIOS resets, or even chip reballing. You need technical know-how. If you’re not comfortable opening a miner and checking solder joints, you’re setting yourself up for frustration.
What About the ROI?
People say used miners have faster ROI. That’s true-if you’re only planning to mine for six months.
Here’s the reality:
- A used S9 might break even in 7-8 months-if electricity stays at $0.10/kWh and Bitcoin price doesn’t drop.
- A new S21e XP Hyd 3U takes 16-18 months to break even.
But here’s what no one tells you: after 18 months, the S9 is already obsolete. Its resale value has dropped 40% since Q1 2025. You’ll sell it for $300, maybe $400 if you’re lucky. The S21e? Still worth $13,000. That’s 75% of its original value.
That’s not just ROI-it’s asset retention. The S21e is still profitable in 2026. The S9? It’s already near the edge of viability. Industry analysts predict that by Q2 2026, any ASIC above 50 J/TH won’t be able to cover power costs. The S9 is at 95 J/TH. It’s already dead weight.
Who Should Buy Used?
There’s one scenario where used hardware makes sense: short-term speculation.
If you’re betting on a Bitcoin price surge in the next 6-8 months-say, before the 2028 halving-you might use used miners as a temporary play. You buy cheap, mine hard, sell before the machines die, and pocket the profit.
Or if you’re on a tight budget and have access to free or ultra-cheap electricity (like a warehouse with solar panels), used miners can still work. But you need to accept the risks: downtime, repairs, and the certainty that you’ll be out of the game before the next halving.
For anyone serious about mining beyond 2025, used hardware is a trap. It looks like a shortcut, but it’s a detour that leads to higher costs, more stress, and lower returns.
What’s the Best New Miner in 2025?
Not all new miners are created equal. Here are the top performers as of September 2025:
| Model | Hashrate | Power (W) | Efficiency (J/TH) | Price (AUD) |
|---|---|---|---|---|
| Bitmain Antminer S21e XP Hyd 3U | 860 TH/s | 11,180 | 13 | $17,210 |
| Bitdeer SealMiner A2 Pro Hyd | 500 TH/s | 7,450 | 14.9 | $3,958 |
| Auradine Teraflux AH3880 | 600 TH/s | 8,700 | 14.5 | $7,800 |
| Canon Avalon Q | 210 TH/s | 3,900 | 18.6 | $2,100 |
The S21e XP Hyd 3U is the king of efficiency. The Canon Avalon Q is the best entry-level option for home miners. The SealMiner A2 Pro Hyd gives you nearly half the power of the S21e at a fraction of the cost.
Even the cheapest new miner today-the Canon Avalon Q at $2,100-is more efficient than any used S9. It runs at 18.6 J/TH. The S9? 95 J/TH. You’re getting over five times the efficiency for just $1,500 more. That’s not expensive-it’s smart.
The Bigger Picture: Mining in 2025
Bitcoin mining isn’t a hobby anymore. It’s an industry. Enterprise operations now control 82% of the global hashrate. They use immersion cooling, renewable energy, and new ASICs. They’re not buying used S9s.
Regulations are tightening too. California now requires miners to use at least 30% renewable energy. Australia is moving in the same direction. If you’re using an old, inefficient miner, you’re not just losing money-you’re becoming non-compliant.
And the network keeps getting harder. The Bitcoin hashrate hit 750 exahashes per second in August 2025. That’s up 40% from last year. Your machine has to be better than 90% of the others just to stay in the game.
Used hardware is a relic. It’s not going to disappear overnight-but it’s losing ground fast. By 2026, the only miners still running will be those that can’t afford new hardware… or those who don’t care about profit.
Final Decision: What Should You Do?
If you’re mining for fun, have free power, and don’t mind spending weekends fixing fans-go for used. But know what you’re getting into.
If you want to make money, stay in the game past 2026, and avoid constant headaches-buy new.
There’s no middle ground. You can’t half-commit. The market has moved too far. Efficiency is the only currency that matters now. And in 2025, new ASICs are the only ones that still have value.
Don’t buy a used miner because it’s cheap. Buy a new one because it’s the only thing that still works.
Is it worth buying a used Antminer S9 in 2025?
No. The Antminer S9 uses 95 J/TH, while modern miners use 13-18 J/TH. At current electricity prices, an S9 loses money even when Bitcoin is at $70,000. Most S9s sold today are already worn out, and replacement parts are hard to find. Unless you have free power and plan to mine for less than six months, avoid it.
How long does a new ASIC miner last?
A new ASIC miner can last 3-5 years under normal conditions. Most manufacturers offer 180-day warranties, but the hardware itself often runs reliably for much longer. The main reason miners retire early is because they become unprofitable due to rising network difficulty-not because they break.
Can I make money mining Bitcoin with $2,000 in 2025?
Yes, but only with a new entry-level miner like the Canon Avalon Q. It costs $2,100, uses 3,900 watts, and runs at 18.6 J/TH. At $0.10/kWh and a Bitcoin price of $65,000, it earns about $12-$15 daily after power. That’s $360-$450 monthly. It will break even in 14-16 months and keep earning after that.
Do I need special cooling for new ASICs?
Most new ASICs are designed for air cooling and run quietly at 50dB. You don’t need immersion cooling unless you’re running a large farm. For home or small setups, a well-ventilated room with fans is enough. Immersion cooling is for industrial operations and adds $5,000-$20,000 in setup cost.
What happens to old ASICs after they’re no longer profitable?
Most are scrapped or sold for parts. Some are repurposed to mine lesser-known SHA-256 coins like Bitcoin Cash or Bitcoin SV-but profits are 80-90% lower than Bitcoin. A few are used for educational purposes or turned into heaters in cold climates. But their resale value drops fast: an S9 that cost $5,000 in 2020 is worth $200 in 2025.
Should I buy from a reseller or directly from the manufacturer?
Always buy new hardware directly from the manufacturer or an authorized distributor. Resellers often sell refurbished or used units as new. Bitmain, MicroBT, and Auradine have official sales channels. Avoid third-party marketplaces unless you’re buying used and understand the risks. Warranty claims won’t work if you didn’t buy from an authorized source.
Kevin Johnston
New hardware is the only way to go. Used S9s are just power-hungry bricks now. 💸🔥