Profitable mine Litecoin today? We believe the profitability of ASIC miners

In the summer of 2019 the attention of cryptoendoliths has focused on Litecoinin August, cryptocurrency has passed through the second halving in its history. Many expected cuts in rewards per block coins will have a positive impact on its price. Unfortunately, the expected Pampa after the event itself never happened, so the profitability of mining LTC plummeted.

Now Litecoin is more reminiscent of a sinking ship. Many miners had to leave because their equipment stopped bringing them enough money to make a profit. However, this has its advantages — with the fall Hasrat network of the bitcoin and the complexity of its hashing is also decreased. Does this mean that now Litecoin is more profitable to produce?

We believe the profitability of ASIC miners

Today Litecoin is trading at $ 69. For the past day, the value of the coin fell 2.2 percent. We will remind, in day of halving the price of bitcoin has reached a local peak in early August at around 102 dollars, it is marked on the chart below.

Source: Coingecko

August 5 LTC miners began to receive two times less coins for each mined block, their remuneration was reduced from 25 to 12.5 LTC. After halving they were no longer interested in mining Litecoin, as evidenced by the drop in Hasrat — it was reduced from 523 to 295 teruhisa per second. In August the network of cryptocurrency has lost more than 30 percent of processing power.

Even today, at midnight, the figure was 285 of teruhisa.

Source: CoinWarz

We will remind, before cutting back rewards the Creator of Litecoin, Charlie Lee has published in his Twitter post with the alleged profitability of ASIC miners Innosilicon A6+ and Antminer L5. Some time after halving we considered the level of profitability of two machines. Do it again to realize how much the situation has changed.

For calculations we use the service WhatToMine. Results for Innosilicon A6+ with the price of electricity to 0.06 of the dollar (that is about 4 rubles) per kWh given below. They are not impressive — only 0.50 dollar profit a day. Compared to previous calculations, the profitability decreased by almost half.

Source: WhatToMine

But data on the Antminer L5: only 16 cents of profit per day with a single ASIC miner. To run equipment for mining Litecoin is pointless, it barely covers the cost of a private operation. As you can see, even the fall Hasrat and complexity did not save the miners LTC, they can only withdraw from the market until better times.

Source: WhatToMine

The more miners leave the network, the more coins goes to the owners of ASIC, which will remain there. The number of coins per block and the time block is fixed, so the size of the "pie" remains the same. To improve the situation unless the leap year of cryptocurrencies, but until it is explicitly configured for significant growth. We will remind, in day of halving the value of LTC was around $ 100. Today the coin is worth $ 69.

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