The daily profitability for the MicroBT Whatsminer M56S, when used for mining Bitcoin, is approximately $20.75. This figure is based on average earnings and can fluctuate depending on various factors such as Bitcoin’s price, mining difficulty, and electricity costs.

193 days —

The estimated time to break even for each mining setup, based on the provided prices and average daily earnings, is as follows:

1.  MicroBT Whatsminer M56S: Approximately 193 days.

How long until you break even with each setup?

The price of various Bitcoin mining setups varies considerably based on their capabilities and features. Here’s an overview of some of the prominent mining hardware and their approximate prices as of 2024:

1. MicroBT Whatsminer M56S: This model has a hash rate of 212 terahashes per second and uses 5550 watts of power. It features water cooling, making it quieter than many other models. Prices for this model start around $4,000, with variations based on hash rate and vendor oai_citation:1,ASIC Prices – WhatsMiner M56S Prices oai_citation:2,10 Best Crypto Mining Hardware in 2024 | Koinly.
2. Bitmain Antminer D9: With a hash rate of 1770 gigahashes per second and a power consumption of 2839 watts, the Antminer D9 is priced at $5,900 and above. It’s designed to mine coins using the X11 mining algorithm oai_citation:3,10 Best Crypto Mining Hardware in 2024 | Koinly.
3. Bitmain Antminer K7: This machine, released in January 2023, has a hash rate of 63.5 terahashes per second and power consumption of 3080 watts. It’s available for about $5,400 oai_citation:4,10 Best Crypto Mining Hardware in 2024 | Koinly.
4. Bitmain Antminer Z15: Known for its low power consumption and price point, the Antminer Z15 offers a hash rate of 420ksol/s and is priced starting at $2,300. It is suitable for mining coins like ZEC, BTG, and ZEN using the equihash algorithm oai_citation:5,10 Best Crypto Mining Hardware in 2024 | Koinly.
5. Bitmain Antminer L7: This miner, with a hash rate of 9.5 gigahashes per second and a power consumption of 3425 watts, is priced around $6,300. It can mine Scrypt algorithm coins like Dogecoin, Litecoin, and Syscoin oai_citation:6,10 Best Crypto Mining Hardware in 2024 | Koinly.
6. iPollo V1: This rig has a maximum hash rate of 3.6 gigahashes per second and a power consumption of 3100 watts. It’s priced at approximately $6,300 and is used for mining coins like Ethereum Classic oai_citation:7,10 Best Crypto Mining Hardware in 2024 | Koinly.

The choice of mining hardware depends on factors like budget, efficiency, hash rate, and the specific cryptocurrency you intend to mine. It’s important to consider the return on investment and ongoing electricity costs when selecting a mining setup. Additionally, remember that mining rewards are subject to taxation, so it’s advisable to understand the tax implications of your mining activities.