Add as a preferred source on GoogleOne Antminer S21 XP Model Puts Bitcoin Break-Even Average at $100,000
The estimate assumes $0.08 per kilowatt-hour electricity, a flat network hashrate and three-year depreciation. A separate cash-payback benchmark is about $116,000 by the end of 2028.
Matthew Sigel, VanEck’s digital assets research head, estimated one Antminer S21 XP would require Bitcoin (BTC) to average about $100,000 from Nov. 4 through the expected April 2028 halving for the machine to break even.
Sigel’s model uses a $3,459 machine price and electricity cost of $0.08 per kilowatt-hour. It assumes the network hashrate stays flat and spreads the equipment cost over three years of depreciation.
The model gives a separate benchmark for cash payback: a BTC price of about $116,000 would be needed for the machine to recover its cost by the end of 2028. That differs from the roughly $100,000 average-price estimate through the halving.
Bitcoin’s network hashrate is approaching 1,038 exahashes per second, a level near a historical high. The result is specific to this machine and the model’s assumptions.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.