Antminer S5 Review – Profitable Or Not?
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The golden age for Bitcoin miners passed a long time ago. In 2013, with 2013 bitcoin prices, miners could use an inexpensive $500 GPU mining machine and earn $200 every month for at least one year. Today, the least you can pay for a profitable mining machine is $1000, and it won’t be a GPU.
ASIC machines are the only viable Bitcoin miners for people who want to make profits. In most cases, after investing $1000 in the ASIC, you have to invest more in power supply units and a computer. But if you make the right investment decisions, there is hope you can make decent profits mining Bitcoins.
If you have been looking for a good ASIC machine to mine Bitcoins, you’ve probably come across the Bitmain, the company behind the Antminer brand. With a series of powerful ASICs, it’s easy to get confused over which to purchase. Continue reading for a review of the Antminer S5 and learn why it’s probably not the best ASIC to buy today.
What is the Antminer S5?
Bitmain’s Antminer S5 is a Bitcoin and other SHA-256 coins ASIC miner launched in late 2014. With a hashing power of 1155 GH/s, it was one of the best ASICs in 2015. Back then, Bitcoin’s mining difficulty was 100 times less difficult than it is in May 2018. As such, miners were able to break even in about ten months and make profits for several more months.
The Antminer S5 is still available for sale today. But compared to modern ASIC machines, the S5 lags behind. In terms of functionality, the Bitcoin miner uses the normal SHA-256 function to solve complex math problems. It consumes 590 watts maximum, but it can also be loud.
As an SHA-256 miner, you can also mine the following cryptocurrencies:
If you are only interested in mining Bitcoins, Bitmain, the company behind the S5, offers great ASICs that are up to the task with today Bitcoin mining difficulty. Modern ASICs are also power efficient, making them better all-round compared to the S5. Bitmain is based in Hong Kong and ships their products all over the world.
The Antminer S5 Price
When launched in 2014, the Antminer S5 cost in excess of $500. At the time of writing, a new S5 costs $290 on both eBay and Amazon. You can also find a used S5 on eBay for $200. Unfortunately, the ASIC’s price is not the problem.
You can no longer make profits with this machine unless you have free electricity. And even then, you can only make $250 per year, which will be lower than the initial cost and the cost of purchasing a power supply unit and a cooling fan.
Compared to the DragonMint ASIC and other machines, here is how the S5 fairs:
|ASIC Miner||Hashing Power||Price||Seller|
|Antminer S9||14 TH/s||$1300-$1400||Amazon/Bitmain.com/eBay|
|Antminer S7||4.73 TH/s||$1100||Amazon|
|Avalon 741||7.3 TH/s||$1299||Amazon|
|Avalon 6 Miner||6 TH/s||$299- $800||Amazon|
|DragonMint T1||16 TH/s||$1595||Halongmining.com|
Antminer S5 Profitability
We have already made it clear that the Antminer S5 is not a profitable mining machine. But let’s look at exactly why this machine is no longer considered a profitable machine.
Bitcoin miners solve complex math puzzles to verify Bitcoin transactions in a hashing language known as the SHA-256. The Bitcoin payment protocol, one the other hand, was coded in such a way that the complexity of the hashes solved by miners adjusts after a while. When the complexity increases, an ASIC’s hashing power is affected negatively.
The S5 has a hashing power of 1115 Gigahertz per second. This hashing power could mine Bitcoins profitably in 2015 but it cannot in 2018 because the mining difficulty is much more difficult.
When you add electricity costs, it becomes impossible to make profits with the machine. The Antminer S5 power consumption is 590 watts. Assuming you pay a minimum of $0.1 per Kwh, you will need to pay $42 in electricity costs every month. As already mentioned, the ASIC can only mine $20 worth of coins monthly, leading to a loss of $22 every month.
If you have free electricity, however, you can comfortably make $20 with the machine. But the problem again is that the S5 costs up to $500, meaning it would take at least 2 years to break even. If Bitcoin’s mining difficulty keeps on increasing, it could take three years.
More Profitable ASIC Miner
Arguably the most recommended mining ASIC in mid-2018 is the Antminer S9. It was developed by the same company that made the S5. With a hashing power of 14 TH/s against a power consumption rate of 845 watts, this machine means business. The S9 is also affordable at $1373 compared to the $2700 DragonMint miner is sold for.
If your electricity cost is $0.1 per Kwh, the S9 will get you an income of $166 every month. This way, you can have your investment back in 12 months, with the PSU and all other costs included. The PSU (power supply unit) is an important component for every ASIC and costs you an additional $200.
The Antminer S5 Power Consumption
Earlier on, we mentioned that the Antminer S5 consumes 590 watts of power. However, the ASIC is efficient and can consume much less on a cool day. Some users report that the miner consumes between 560 watts and 590 watts when used on a 110V power unit. Although the machine consumes 590 watts when mining Bitcoins, it also consumes nearly 100 watts when starting off. When you launch the ASIC, and as you wait to connect to the Internet, the machine will consume some power. When running, the machine also wastes 10% or more of the 590 watts it’s rated every hour.
This energy is wasted at the power supply unit level. In the end, you probably will have to pay 700 watts every hour instead of the 590 watts it’s rated.
The Setup of the Antminer S5
Nearly all ASICs work the same. When setting them up, you need an Internet-connected computer around and a Bitcoin mining software. The Antminer S5 searches for an IP address automatically. With the IP address, you get a control panel which you can use to tweak the device’s performance.
If you want to start mining with the machine, you must run a mining software program. It will automatically sense the ASIC, but you will need to enter key details about your mining pool and your Bitcoin address. Once it’s set up and running, you can install it anywhere in your house.
Antminer S5 Power Supply
The Antminer S5 needs a power supply unit to convert AC current from your home’s power unit to DC current that can be used to mine Bitcoins. When it came out, the recommended PSU unit was a 750w. Today, you can find a 750w unit for $50 or even less on eBay. On Amazon, the unit costs $64 and comes with instructions on how to use it.
According to many Antminer S5 reviews, its power supply unit is bronze rated and wastes up to 30% of energy. By comparison, one of the latest ASICs on sale, the DragonMint ASIC T1, has a power supply unit that is gold rated. It has an efficiency rate of up to 90% and handles 180w with a 110V/120V unit and 1850w with a 200V-240V unit.
The S5 operates at temperatures of between 00C and 400C (800F-1750F). However, if the temperatures are kept below 300C, the machine performs better and can stay functional for longer. Unfortunately, the S5 is also noisy. Its fan does a poor job of keeping it silent, noting that it produces 75dBA.
In a Nutshell
In the Antminer S5, Bitmain produced one of the best ASICs of 2015. It came out in late 2014 and sold out in stores almost immediately. Its 1 TH/s and power consumption of $575 made it profitable in 2015 even though Bitcoin’s price was less valued than it is today.
Currently, the S5 stands no chance when compared to modern ASICs like the Antminer S9 and the DragonMint T1. The S9 is arguably the best miner today in terms of price, hashing power and efficiency.
Thank you for reading our S5 review above. To learn more about the profitable ASIC machines in 2018, scroll through our site for guides and reviews.