Bitmain Launches S21XP with 13.5 J/TH in Bitcoin Mining Efficiency

Image of Bitmain at WDMS via HashrateIndex

Mining hardware giant Bitmain has unveiled a new addition to its Antminer S21 series, the S21XP, which boasts an impressive efficiency of 13.5 joules per tera hash (J/TH). The launch was announced at the World Digital Mining Summit in Las Vegas on Monday.

Product Specifications

The air-cooled Antminer S21XP features a hash rate capacity of 270 tera hashes per second (TH/s) with an energy efficiency of 13.5 J/TH. Bitmain also introduced the S21XP Hydro, a hydro-cooling model, capable of delivering a hash rate of 473 TH/s at an efficiency of 12 J/TH. Additionally, the S21XP Hydro offers an immersion-cooling model with both normal and high-energy modes, further enhancing its operational flexibility and efficiency.

Market Context

The timing of this release coincides with bitcoin's hash price hovering just above $53 per petahash per second (PH/s). This follows the recent halving event and comes amid a period of relatively stable bitcoin prices. The efficiency of the S21XP, at 13.5 J/TH, translates to a daily hash cost of $22.68 per PH/s, assuming an energy rate of $0.07 per kilowatt-hour (kWh).

Economic Implications

At the current hash price, the S21XP offers a gross margin of approximately 57%. However, the market impact and profitability will depend on Bitmain's ability to deliver these new models to the market promptly.