Antminer S9 Review: Greater Profitability Justifies High Cost

antminer s9

Image credit to: Bitmain.com

Since Bitcoin’s creation, mining difficulty has increased steadily, making it hard for people with standard miners to mine BTC.

From December 2015 to September 2018, Bitcoin’s mining difficulty grew to 7.5TH/s from 93.4GH/s. The fast rise in mining difficulty has made cryptocurrency enthusiasts wonder whether there is a reliable solution to help them mine Bitcoins profitably.

One of the top solutions for mining Bitcoin profitably, even with the rise in difficulty, is the Antminer S9. This is a comprehensive Antminer S9 review to establish how this mining solution works and to answer the primary question, “Does the Antminer S9 help users mine Bitcoin easier than other available options?”

What is the Antminer S9?

The Antminer S9 is among the world’s most powerful Bitcoin miners designed with a smaller size compared to other standard portable boom boxes on the market. It is a 4.5 star-rated miner created with a form factor that closely resembles that of the Antminer S7.

However, it differs from the Antminer S7 in that it generates about three times more hashing power and is also more efficient. Every Antminer S9 is fitted with 189 chips that help generate a greater hash rate compared with most Bitcoin miners in the market today.

Even within the Antminer S9, there are significant variations among specific models that can affect the overall hashing power and mining difficulty. Some of these variations include Antminer S9 13.5 TH/s, S12.93 TH/s, and S11.85 TH/s models.  

Users need to be careful about which model they purchase to mine Bitcoins. If possible, we recommend Antminer S9 13.5 TH/s for higher returns.

Antminer S9 Setup and Power Consumption

  • Antminer S9 Setup

The Antminer S9 is a self-contained unit. This makes it easy even for newbies to setup the S9 and start mining Bitcoins.

The most important thing users need to know about how to mine with the Antminer S9 is that it does not need a connection to another computer to get an interface with Bitcoin nodes. However, users still will need to have a node and an appropriate Bitcoin wallet such as the Ledger Nano S.

The Antminer S9 comes with an onboard web management portal that provides a simplified setup as well as a maintenance procedure. If you follow the process carefully, you can complete it and start mining Bitcoin with the Antminer S9 without technical help from a third party.

The video below provides a clear outline on how to set up an Antminer S9:

  • The Power Supply Unit

When deciding whether or not to purchase Antminer S9, it is important to realize that an additional power supply unit (PSU) is required. Some of the recommended power supplies available on Amazon and eBay include:

  1. The AntMiner APW12 1600 Watts Bitcoin miner power supply unit
  2. The EVGA SuperNOVA 1300 Watts GPU power supply unit
  • The Power Consumption

The power consumption of the Antminer S9 is what makes it one of the most efficient pieces of mining equipment available. Users only need about 0.1 joules/ GH to run the miner. This implies that it is about 2.5 times more efficient in comparison with the previous model, the Antminer S7.

The Price of Antminer S9

When the Antminer S9 was introduced to the market in mid-2017, the price was about $2100 on Amazon. However, the price has been reduced to about $540 on Amazon, making the Antminer S9 much more affordable than when it first hit the market.

If you plan to invest in this equipment, it is important to include other costs, especially power needs. For example, you will need approximately 10 months to break even after purchasing the Antminer S9, factoring the cost of electricity at about $0.1/KW.

Mining Profitability with Antminer S9

The Antminer S9 13.5 th review established that the equipment was designed to provide higher hashing power when compared with its previous models. The 189 chips are spread across three circuit boards when positioned in a cool environment.

To determine the profitability of the S9, it is important to consider the following factors:

  • The power cost that is specific to the region that you are mining from
  • Bitcoin’s mining difficulty usually adjusts upwards every 14 days
  • Bitcoin halving occurs every four years
  • Pool fees will depend on the mining pool you join. Even with the Antminer S9, it still will be highly unlikely to find a block if mining alone
  • Bitcoin’s price in the market (the price has been volatile in response to factors such as regulations and monetary policies)

The average returns from the S9 are about 0.285 BTC/ $159 per month or 3.36 BTC/ $1,939 per year. Note that these calculations are based on estimates gathered during this review; however, fluctuating factors make it very difficult to predict profitability with precision, especially in the long term.

Summary

This Antminer S9 review analyzes where the product helps users optimize their mining efforts. The Antminer S9’s compact space and ease of use make it a highly desirable option compared with other products on the market. Here is a summary of the Antminer S9’s main pros and cons.

Pros

  • One of the most powerful miners in the market.
  • Set up is easy.
  • Higher efficiency compared with other miners.
  • Does not need a computer to connect to the Bitcoin network.

Cons

  • Very expensive.
  • Risk of being overtaken by more powerful miner.

Does Antminer S9 make economic sense? From the information and data discussed in this review, the answer is “yes”. However, users need to appreciate that the manufacturers of these miners are upgrading their design and introducing more advanced hardware that will increase  mining difficulty even further.

When new hardware with more hashing power hit the market, it implies that the coins you can mine with the Antminer S9 will be fewer and resulting profitability could shift downwards. However, Bitcoin halving is expected to increase the price of Bitcoin, lower competition, and raise the overall profitability. Therefore, it makes economic sense to get and start using the S9 sooner rather than later.

We acknowledge the Antminer S9 is expensive, but we recommend that interested users make the investment and purchase this product. Although it is difficult to state with precision how long the Antminer S9 will last,  the product’s design makes it more likely it will be profitable for a longer period than other ASIC equipment on the market.

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