A recent report by Coin Metrics has shown a significant improvement in the energy efficiency of Bitcoin mining machines. The researchers found that the hardware efficiency had decreased by 63% from July 2018 to May 2023. The report also highlighted the dominance of newer generation Bitmain machines in the network. CoinDesk collaborated with Coin Metrics to produce machine-specific rankings of efficiency, dominance, and profitability. The top three machines were all produced by Bitmain, with the most recently manufactured models being the most efficient. However, the report noted that actual observed performance might not always match the manufacturer’s specifications. Additionally, the most efficient and profitable machines may not necessarily be the most used on the Bitcoin network. The calculations for profitability were based on broad assumptions and did not consider the initial cost of acquiring the machines. Overall, the report concluded that the newest machines are the most efficient and profitable, but optimal usage is crucial for miners to get the best results.
AI Sentiment: Positive