Mining market earnings report in February 2019

2019 years 2 months of mining market revenue report

This report focuses on the content:

  • Currency: the market price rose 15.71%, the ten major mining currency of an average increase of 16%

  • The whole network is: ten is the average currency changes to +10%, the calculated stress and rebound

  • Mine cost: three machine manufacturers prices remained stable, card prices remained stable

  • Mining revenue analysis

  • summary

This report details:

1. introduction

This report provides a return of mainstream currency mining mining. The influence factors to the miners including currency price cycle, the whole network is and its price. This indicates that the mining cycle shortened market profit increase, the potential of large capital entering the mining will be increased; and when mining long profit can not cover its costs, a large number of miners will choose to turn off the machine, then or will lead to “mine” occurred.

2. currency price: market rose 15.71%, ten large mining currency rose 16% on average

February (February 1, 2019 -2018 February 28th), global blockchain digital assets total value was down trend, the market on the eve of the Spring Festival sideways after break up, one after another to recover $120 billion and $130 billion level, and topped $140 billion, the market volume rose, large and small cap currency comprehensive rebound, market sentiment rebounded; and blocked down in the early high office market rebound, trading risks for $130 billion. In February the market closing price of $131 billion 100 million, compared with the opening price of $113 billion 300 million rose $17 billion 800 million, or 15.71%.

Figure 1 in the past three months the market trend

 Mining market earnings report in February 2019

Source: CoinMarketCap, TokenMania

Figure 22 mainstream currency price month mining

 2019 years 2 months of mining market revenue report

Source: CoinMarketCap, TokenMania

Compared to 1 9 mining prices into currency movements, 2 month 10 major mining currency rose, the average price rose to 16% ; the LTC price thriving, rose 50%, 10 LTC, ETH, mining currency DASH and BCH outperform BSV and DCR rose bottom, or not 5% and 6%. Generally speaking, currency price increases will lead to the shortening of machine cycle.

3. the whole network is: ten is the average currency changes to +10%, the calculated stress and rebound

In theory, the force of miners to control the proportion of the total net determines its mining success rate, the proportion is higher, the miners get rewarded with greater likelihood. At the same time, the increase of the resources will lead to a relative increase of miners difficulty.

Table 1 nearly three months of mining stress is the mainstream currency

 2019 years 2 months of mining market revenue report

Source: block browser, TokenMania

Figure 32 is the mainstream currency change month mining

 2019 years 2 months of mining market revenue report

Source: block browser, TokenMania

In 2 2019, 10 mining currency finally force the continuation of 1 month overall upward trend, which is the maximum force XMR rebound, an increase of 51%, the second consecutive month rose sharply; followed by DCR, an increase of 28% force. Ten currency only 2 currencies is still in decline; ETH from Constantinople upgrade, finally force is still in the previous low, but compared with January rebound. In February ten large mining currency finally force average change is +10%, down 3 percentage points from the previous month.

Figure 4: nearly half of mining stress or change of mainstream currency

 Mining market earnings report in February 2019

Source: block browser, TokenMania

[note]: 1M=10^6Hash/s, 1G=10^9Hash/s, 1T=10^12Hash/s, 1P=10^15Hash/s, 1E=10^18Hash/s

4. machine cost

Due to the different currency encryption algorithm, the vehicle type is mainly divided into ASIC machine and the card machine, the former because of its specific function, its price is affected by currency market price is more obvious. The ten major mining currency only ETH, ETC and XMR used the card machine, the remaining currencies have been completely occupied ASIC mill.

Table 2 mainstream currency mining encryption algorithm

 Mining market earnings report in February 2019

Source: TokenMania

4.1. ASIC machine: three vehicle manufacturers prices remain stable

In 2019 February, the three major vehicle manufacturers ASIC ore prices remained stable, large discount sale phenomenon does not occur, the mainland, Chia Nan Yun Chi bit, Tianhe International three big manufacturers of mining machine manufacturers prices basically unchanged from January. In addition, Chia Nan Yun Chi January 24th launch of a A911 Avalon mill, rated hashrate 19.5T, priced at 1790 yuan. At the same time, Tianhe International wing bit ore prices has been June prices remain unchanged, is machine manufacturers machine firmer prices bear market.

Table 3 mainstream ASIC machine price changes

 Mining market earnings report in February 2019

Source: Bitmain, Avalonminer, Ebit, TokenMania

4.2. card: price was essentially flat with the previous

Because of the different encryption algorithm, ETH, is currently used in GPU card machine, the core parts for the custom mining board equipped with 6 to 12 cards. The current mainstream graphics is GTX Series graphics card RX series and NVIDIA AMD. Because there are a lot of card sales channels, the price will be different in different regions, the following is only for reference.

Figure 5 2 each month card price changes

 Mining market earnings report in February 2019

Source: Jingdong, Tmall, Amazon, TokenMania

Figure 6 nearly half of the price change card

 Mining market earnings report in February 2019

Source: Jingdong, Tmall, Amazon, TokenMania

With two market freeze, incremental approach Power Miners have declined, prices affect the graphics card on the demand side of the miners community tends to weaken, in recent months the price card decline will obviously slow down. This month eight cards, more than half of the card price compared to January has not changed, only three cards prices, respectively is RX580 (-7%), GTX1060 (-1%) and GTX1080Ti (-3%), eight card price changes in the average price of -1.3%.

Analysis of 5. mining revenue

The 5.1. unit is power gain: ten big currencies daily average revenue decline of 1%

A unit of force in eliminating the influence of machine income refers to the cost of the case, according to the different currency unit is in the whole network accounting, and currency price fluctuations to calculate the daily income. Bitcoin as an example, the calculated force per unit income refers to 1THash/s is available daily income of rmb. In theory, the numerical control miners with daily income is proportional to the force.

Table 4 the main mining currency unit count force of daily returns (unit: RMB)

 Mining market earnings report in February 2019

Source: TokenMania

[note] different currencies is the smallest unit of a unit of force difference: BTC 1THash/s, ETH 1MHash/s, BCH 1THash/s, BSV 1THash/s, LTC 1MHash/s, XMR 1KSol/s, Dash 1GHash/s, ETC 1MHash/s, ZEC 1KHash/s, DCR 1THash/s.

 

Figure 7 this month mainstream currency gains change mining unit count force

 Mining market earnings report in February 2019

Source: TokenMania

The calculated stress and rebound effects this month ten major mining currency in six currency units is the decline of the ten major currencies daily average revenue decline of 1%. The LTC this month due to rising prices, unit count force revenue than last month rose 22%, or the two highest; 10 mining mainstream currency decline in earnings ranks 3 currencies were XMR (-28%), DCR (-18%), ETH (-8%).

Figure 8 in the past six months the mainstream currency unit is mining revenue rose changes

 2019 years 2 months of mining market revenue report

Source: TokenMania

Back to the 5.2. machine cycle: overall slightly shortened BTC, BCH and DASH to the extended period

As the report on March 13, 2019, according to the whole network data for each currency, assuming uniform electricity for 0.45 yuan, calculated for each currency to the static mining cycle.

Table 5 machine cycle to the mainstream currency

 Mining market earnings report in February 2019

Source: public data, TokenMania

Figure 9 in the past three months compared to the mainstream currency machine

 Mining market earnings report in February 2019

Source: TokenMania

The count and currency prices and other factors, this month the currency machine in addition to BTC, BCH and DASH to the cycle of the previous month increased, other currencies to the mining cycle had different degrees of shortening. Compared to the return cycle, this month ten currency mining mill, LTC mill this month to the shortest period, for 291 days, followed by ZEC mill and DCR mill, respectively, 337 and 379 days, the rest of the mill back cycle is generally longer.

ASIC mills, the bull market in the “money machine”, S9 series mill bit continent has now declared dead. The new machine S15 to the cycle for different currencies, BTC back to this period and January are basically the same, currency BCH and BSV bifurcation, S15 this month to BCH back to the 68.9% cycle significantly extended to 1037 days, the BSV back to this period is greatly shortened 41.8% to 601 days last month. LTC L3++, ZEC Z9 and mill mill DCR mill DR5 back to this period is shortened, the month back to the period of last month were shortened by 8 days, 37 days and 135 days, the reduction ratio were 2.7%, 9.9% and 26.3%. In addition, DASH machine D5 this month back to this period last month significantly prolonged 3.39 times to 817 days.

The card machine, card machine, ETH RX570-4G 6 ETC to dig this cycle by 3.8% and 20.8% respectively compared with last month to 1249 days and 1214 days, the cycle is long, the graphics mining short-term risk, the situation is not optimistic.

[note] the return of the cycle is static theory to the cycle, the return of the cycle and actual return to this period there exist certain deviation, without considering the mining cost and price changes, for reference only.

6. summary

February (February 1, 2019 -2018 February 28th), global blockchain digital assets total value was down trend, the market on the eve of the Spring Festival sideways after break up, one after another to recover $120 billion and $130 billion level, and topped $140 billion, the market volume rose, large and small cap currency comprehensive rebound, market sentiment rebounded; and blocked down in the early high office market rebound, trading risks for $130 billion. In February the market closing price of $131 billion 100 million, compared with the opening price of $113 billion 300 million rose $17 billion 800 million, or 15.71%. Compared to the 1 month price decline in the trend of currency into mining, in February ten major mining currencies rose, the average price increase of 16%; the LTC price thriving, rose 50%, ten in LTC, ETH, mining currency DASH and BCH outperform BSV and DCR rose bottom, rose by 5% and 6%.

In 2 2019, 10 mining currency finally force the continuation of 1 month overall upward trend, which is the maximum force XMR rebound, an increase of 51%, the second consecutive month rose sharply; followed by DCR, an increase of 28% force. Ten currency only 2 currencies is still in decline; ETH from Constantinople upgrade, finally force is still in the previous low, but rebounded last month. In February ten large mining currency finally force average change for +10%, rose last month fell 3 percentage points.

In 2019 February, the three major vehicle manufacturers ASIC ore prices remained stable, large discount sale phenomenon does not occur, the mainland, Chia Nan Yun Chi bit, Tianhe International three big manufacturers of mining machine manufacturers prices basically unchanged from January. In addition, Chia Nan Yun Chi January 24th launch of a A911 Avalon mill, rated hashrate 19.5T, priced at 1790 yuan. The Tianhe International wing bit ore prices has been June prices remain unchanged, is machine manufacturers machine firmer prices bear market. With two market freeze, incremental approach Power Miners have declined, prices affect the graphics card on the demand side of the miners community tends to weaken, in recent months the price card decline will obviously slow down. This month eight cards, more than half of the card price compared to January has not changed, only three cards prices, respectively is RX580 (-7%), GTX1060 (-1%) and GTX1080Ti (-3%), eight card price changes in the average price of -1.3%.

The calculated stress and rebound effects this month ten major mining currency in six currency units is the decline of the ten major currencies daily average revenue decline of 1% . The LTC this month due to rising prices, unit count force revenue than last month rose 22%, or the two highest; 10 mining mainstream currency decline in earnings ranks 3 currencies were XMR (-28%), DCR (-18%), ETH (-8%).

Overall, the computing power and currency prices and other factors, this month the currency machine in addition to BTC, BCH and DASH back to this period is prolonged, the other currencies to the mining cycle had different degrees of shortening . Compared to the return cycle, this month ten currency mining mill, LTC mill this month to the shortest period, for 291 days, followed by ZEC mill and DCR mill, respectively, 337 and 379 days, the rest of the mill back cycle is generally longer.

ASIC machine, S15 machine, a new bit back the cycle for different currencies, BTC back to this period and 1 months are basically the same, currency BCH and BSV bifurcation, S15 this month on the BCH to the 68.9% cycle significantly extended to 1037 days, the BSV back to the period of last month significantly shortened 41.8% to 601 days. LTC L3++, ZEC Z9 and mill mill DCR mill DR5 back to this period is shortened, the month back to the period of last month were shortened by 8 days, 37 days and 135 days, the reduction ratio were 2.7%, 9.9% and 26.3%. In addition, DASH machine D5 this month back to this period last month significantly prolonged 3.39 times to 817 days. The card machine, card machine, ETH RX570-4G 6 ETC to dig this cycle last month reduced 3.8% and 20.8% respectively to 1249 and 1214 days, the graphics mining short-term risk, back to the long period, the situation is not optimistic .

It is worth mentioning that the morning of 1 August 3, upgrade the etheric Fang Constantinople and St Petersburg has been successfully completed, the network is operating normally, no abnormal situation, the ether chain has been completely transferred to the square block of the new branch; the current market sentiment is stable, not because of the event to upgrade investment options. The effect of 2 in the upgrading of Constantinople, the etheric Fang finally force in the early low; Constantinople upgraded etheric difficulty Fang declined, block time decreased, while block reward is reduced from 3ETH to 2ETH, the upgrade for Ethernet from PoW to PoS square to switch.

Author: Yao Huawei TAMC Research Institute

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