BITMAIN Antminer S19 86TH/S: A Bitcoin Mining Powerhouse_2081

 

BITMAIN Antminer S19 86TH/S: A Bitcoin Mining Powerhouse

The BITMAIN Antminer S19 86TH/S is an Application-Specific Integrated Circuit (ASIC) miner, a specialized computing device engineered specifically for the task of cryptocurrency mining.1 Launched as part of Bitmain's S19 series, it represented a significant leap in computational power and energy efficiency at the time of its release, making it a formidable tool for those seeking to secure the Bitcoin network and potentially generate profit.2

 

Core Specifications and Performance

This model is defined by its core specifications, which dictate its function and efficiency:

Hashrate (86 TH/s): The device is capable of performing 86 Terahashes per second (TH/s).3 A Terahash represents one trillion (1,000,000,000,000) hashing operations per second. This extremely high rate is crucial for competing on the globally distributed mining network.

Power Efficiency (34 J/T): The energy efficiency is approximately 34 Joules per Terahash (J/T).4 This metric is a vital measure of profitability, indicating how much energy (Joules) is consumed to produce one Terahash of compute power.5 A lower J/T is better, as it means the machine uses less electricity for the same output, reducing operating costs.

Power Consumption (2967W): The miner consumes approximately 2967 Watts (W) of power, necessitating a 220V power source.6 This substantial power draw is typical for high-performance ASIC miners, requiring industrial-grade or dedicated electrical infrastructure.

Air-Cooling Home Mining Machine: The unit utilizes a built-in air-cooling system to manage the intense heat generated by the ASIC chips. While this design is plug-and-play, the noise level and significant heat output mean it often requires a dedicated, well-ventilated space, even for "home" operations.

Power Supply: The designation "w/o Power Supply" means the external Power Supply Unit (PSU) is not included with the purchase and must be sourced separately. The PSU is essential for providing the required high-voltage, high-amperage power to the miner.

 

SHA256 Algorithm and Mining Purpose

The S19 86TH/S is dedicated to mining cryptocurrencies that use the SHA256 (Secure Hash Algorithm 256-bit) consensus mechanism, primarily Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV).7

Proof-of-Work (PoW): Mining these cryptocurrencies relies on the Proof-of-Work process.8 Miners repeatedly perform SHA-256 hashing operations on a block of transaction data combined with a variable number (a nonce) until a hash output is found that meets the network's current difficulty target (a hash starting with a certain number of zeros).9

ASIC Specialization: Unlike general-purpose hardware like CPUs or GPUs, the S19's custom-designed ASIC chips are purpose-built for the single task of executing the SHA-256 calculation at maximum efficiency.10 This specialization is why ASICs dominate the mining of SHA-256 coins.

In summary, the Antminer S19 86TH/S is a high-hashrate, high-efficiency machine designed to maximize the discovery of new blocks and the earning of mining rewards on SHA-256 networks, balancing computational output against the critical factor of electricity consumption.11

To see the setup of a similar Antminer model, check out this video: Setting up an S19 J Pro ASIC Bitcoin Miner. This video provides a look at the physical and electrical requirements of operating an S19 series Bitcoin miner.

 

 

 

 

 

 

Analyzing the current profitability of an older-generation ASIC like the Antminer S19 86TH/S is crucial because its primary challenge is competing with newer, more efficient machines on an increasingly difficult network.

Here is an estimated profitability analysis for the BITMAIN Antminer S19 86TH/S, based on current market conditions (as of late October 2025 data).

 

Profitability Analysis for Antminer S19 86TH/S

The profitability of an ASIC miner is a direct function of three main variables: Gross Revenue (driven by Hashrate, Bitcoin Price, and Network Difficulty), Electricity Cost, and Net Profit/Loss.

Metric	Value (Antminer S19 86TH/S)	Formula/Notes
Hashrate ($H$)	$86 \text{ TH/s}$	The machine's computational power.
Power Draw ($P$)	$2,967 \text{ W } (2.967 \text{ kW})$	Power consumption specified in the product title.
Power Efficiency	$\approx 34 \text{ J/TH}$	Ratio of Power Draw to Hashrate.

1. Estimated Gross Daily Revenue (Before Electricity)

Based on current Bitcoin network data and a general price estimate (as of October 2025, with Bitcoin trading in the $100,000 to $125,000 range), the estimated daily revenue for an $86 \text{ TH/s}$ machine is:

Estimated Daily BTC Income: $\approx 0.000035 \text{ BTC}$ to $0.000045 \text{ BTC}$

Estimated Daily USD Income: $\mathbf{\approx \$4.00 - \$5.50 \text{ USD per day}}$

Note: This number fluctuates constantly based on the live Bitcoin price and the ever-increasing network difficulty.

2. Estimated Daily Electricity Cost (Operating Expense)

This is the most critical factor for an older-generation miner. We will calculate the daily electrical cost at three different rates: a low industrial rate, a mid-range rate, and a high home/commercial rate.

$$\text{Daily Cost} = P (\text{kW}) \times 24 \text{ hours} \times \text{Rate} (\$/\text{kWh})$$

Electricity Cost Rate (/kWh)	Daily Power Consumption (kWh)	Daily Electricity Cost (USD)
$0.04 (Ultra-Low)	$2.967 \text{ kW} \times 24 \text{h} = 71.2 \text{ kWh}$	$\mathbf{\$2.85}$
$0.07 (Mid-Range)	$71.2 \text{ kWh}$	$\mathbf{\$4.98}$
$0.10 (High/Home)	$71.2 \text{ kWh}$	$\mathbf{\$7.12}$

3. Estimated Daily Net Profit (Profitability Threshold)

The Net Profit determines if the machine is worth operating.

$$\text{Net Profit} = \text{Gross Revenue} - \text{Daily Cost}$$

Electricity Cost Rate (/kWh)	Estimated Daily Revenue (≈$4.75)	Daily Electricity Cost	Daily Net Profit/Loss
$0.04	$\$4.75$	$\$2.85$	$\mathbf{+\$1.90}$
$0.07	$\$4.75$	$\$4.98$	$\mathbf{-\$0.23}$
$0.10	$\$4.75$	$\$7.12$	$\mathbf{-\$2.37}$

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Conclusion and Key Takeaways

Profitability is Highly Location-Dependent: The Antminer S19 86TH/S is currently only reliably profitable at ultra-low electricity rates (below $\text{0.07/kWh}$). At or above the national average commercial/residential rates in many developed countries, the machine is likely operating at a daily loss once non-electrical overhead (hosting, maintenance, repair, depreciation) is included.

Obsolescence is a Factor: The S19 86TH/S, with its $\approx 34 \text{ J/TH}$ efficiency, is being rapidly outpaced by the newest ASIC models on the market, which boast efficiencies as low as $\approx 12-16 \text{ J/TH}$. This technological gap makes mining significantly harder and less profitable for older hardware over time, a concept known as "The Mining Death Spiral" for inefficient rigs.

Investment Consideration: If you already own this miner and have extremely cheap power, it is worth running. For new investors, however, purchasing this model to run at standard home or commercial rates would be an unwise financial decision due to the extremely long, or potentially infinite, time to break-even.

 

 

 

 

 

 

 

 

 

 

 

Yes, comparing the Antminer S19 86TH/S to a current top-of-the-line model starkly illustrates the impact of energy efficiency ($\text{J/TH}$) erosion on older hardware.

We will use the BITMAIN Antminer S21 (200 TH/S, Air-Cooled) as the modern benchmark, as it represents the current generation's standard for efficiency and power. We will use the Mid-Range Electricity Cost of $0.07/kWh, the rate at which the older S19 machine breaks even or shows a small loss.

 

Comparison of Old vs. New ASIC Efficiency

The most significant difference lies in the Joules per Terahash ($\text{J/TH}$) efficiency rating, which measures energy use per unit of hashing work.

Specification	Antminer S19 86TH/S (Old)	Antminer S21 200TH/S (New)	Difference
Hashrate ($H$)	$86 \text{ TH/s}$	$\mathbf{200 \text{ TH/s}}$	+133%
Power Draw ($P$)	$2,967 \text{ W } (2.97 \text{ kW})$	$3,500 \text{ W } (3.5 \text{ kW})$	+18%
Energy Efficiency ($\text{J/TH}$)	$\mathbf{34.5 \text{ J/TH}}$	$\mathbf{17.5 \text{ J/TH}}$	-49% (Twice as Efficient!)
Daily Energy Consumed (kWh)	$71.2 \text{ kWh}$	$84 \text{ kWh}$	+18%

The new generation nearly doubles the hashing power while only increasing electricity draw by 18%, drastically improving efficiency and insulating the operation from rising difficulty and electricity costs.

 

Net Profit Comparison at $0.07/kWh

This scenario demonstrates the viability of each machine at a $0.07 per kilowatt-hour ($/kWh) electricity rate—a common rate for industrial or low-cost commercial operations.

Metric	Antminer S19 86TH/S	Antminer S21 200TH/S	S21 Profit Advantage
Gross Daily Revenue (Approx.)	$\approx \$4.75$	$\approx \$11.00$	+132%
Daily Electricity Cost (at $0.07/kWh)	$\mathbf{\$4.98}$	$\mathbf{\$5.88}$	+$0.90
Net Daily Profit (Loss)	$\mathbf{-\$0.23}$	$\mathbf{+\$5.12}$	$5.35

Key Takeaways from the Comparison

Break-Even Point is Key: The Antminer S19 86TH/S is unprofitable at this mid-range electricity rate, effectively making it a machine that buys Bitcoin at a slight premium to the market price.

S21 Remains Highly Profitable: The Antminer S21 200TH/S remains significantly profitable at this same rate, generating over $5.00 in net profit per day.

The Margin is the Moat: The new machine's profit margin acts as a buffer against two major forces: the Halving (which cuts rewards) and the constantly increasing network difficulty. As difficulty rises, the S19 will become even more negative, while the S21 will remain profitable much longer.1

In modern mining, efficiency (low 2$\text{J/TH}$) is more valuable than raw hashrate because electricity is the only recurrent operating expense that miners can truly control.3 This comparison confirms that running older hardware at anything above the lowest electricity rates is generally unsustainable in the long term.

 

 

 

 

 

 

 

 

 

 

 We can absolutely analyze the Payback Period (ROI) for both machines and then detail the specifications of a top-tier hydro-cooled miner to show the absolute peak of efficiency.

 

Part 1: Payback Period (ROI) Analysis

The Payback Period calculates how long it takes to recover the initial capital investment (CAPEX) through daily net profit. We will use a favorable electricity rate of $0.04/kWh (the lowest tier from the previous analysis) as the baseline for profitability, and current approximate purchase prices.

$$\text{Payback Period (Days)} = \frac{\text{CAPEX}}{\text{Net Daily Profit}}$$

1. Antminer S19 86TH/S (Legacy Machine)

This machine is typically purchased on the used/secondary market.

Metric	Value	Calculation
CAPEX (Approx. Used Price)	$\mathbf{\$400}$	(This is an approximate used market price)
Gross Daily Revenue	$\approx \$4.75$	(From previous analysis)
Daily Electricity Cost (at $0.04/kWh)	$\approx \$2.85$	(From previous analysis)
Net Daily Profit	$\mathbf{\$1.90}$	$(\$4.75 - \$2.85)$
Payback Period	$\mathbf{210 \text{ Days}}$	$(\$400 / \$1.90)$

2. Antminer S21 200TH/S (Current-Gen Machine)

This machine is typically purchased new.

Metric	Value	Calculation
CAPEX (Approx. New Price)	$\mathbf{\$3,500}$	(Based on current market listings)
Gross Daily Revenue	$\approx \$11.00$	(From previous analysis)
Daily Electricity Cost (at $0.04/kWh)	$\approx \$3.36$	$(\frac{3,500 \text{ W}}{1,000} \times 24 \text{ hrs} \times \$0.04/\text{kWh})$
Net Daily Profit	$\mathbf{\$7.64}$	$(\$11.00 - \$3.36)$
Payback Period	$\mathbf{458 \text{ Days}}$	$(\$3,500 / \$7.64)$

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ROI Comparison Summary

Machine	CAPEX (Approx.)	Net Daily Profit ($0.04/kWh)	Payback Period (Days)
S19 86TH/S	$\mathbf{\$400}$	$\$1.90$	210 Days ($\approx 7 \text{ Months}$)
S21 200TH/S	$\mathbf{\$3,500}$	$\$7.64$	458 Days ($\approx 15 \text{ Months}$)

Key Insight: While the S19 has a faster payback period in days due to its much lower upfront cost, the S21 provides a far higher daily USD return ($7.64 vs. $1.90), insulating the miner against any sudden drop in BTC price or increase in network difficulty. The risk of the S19's small profit margin being wiped out by market changes is very high.

 

Part 2: The Absolute Most Efficient: Hydro-Cooled ASIC

The current peak of efficiency in Bitcoin mining is achieved using hydro-cooling (liquid-cooling) technology, which dramatically lowers the Joules-per-Terahash ($\text{J/TH}$) rating.

The current industry leader in efficiency is a machine like the BITMAIN Antminer S21 XP Hydro (or similar high-end WhatsMiner models).

Specification	Antminer S21 XP Hydro	Comparison to S19 86TH/S
Hashrate ($H$)	$\mathbf{473 \text{ TH/s}}$	+450% (Over 5x the Hashrate!)
Power Draw ($P$)	$\approx 5,676 \text{ W } (5.68 \text{ kW})$	+91%
Energy Efficiency ($\text{J/TH}$)	$\mathbf{12 \text{ J/TH}}$	-65% (3X More Efficient!)
Net Daily Profit ($0.04/kWh)	$\approx \mathbf{\$19.50}$	+926% (Over 10X the Profit!)

Why Hydro-Cooling Matters

Lower $\text{J/TH}$: Liquid cooling allows the ASIC chips to run at higher power without overheating, enabling a lower $\text{J/TH}$ ratio (more hashes per watt). This is the key to remaining profitable when Bitcoin's network difficulty is at all-time highs.

Industrial Scale: Hydro-cooled miners require a sophisticated infrastructure (pumps, radiators, sealed piping) and are typically only feasible for large, professional mining farms, not small home setups. They are the future of competitive mining.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The higher electricity rate dramatically separates the viable miners from the obsolete ones, highlighting why energy efficiency (1$\text{J/TH}$) is paramount in competitive mining.2

Here is the side-by-side comparison of the three machines at a high electricity rate of $0.10/kWh.

 

High-Cost Profitability Comparison ($0.10/kWh)

For each machine, the Daily Electricity Cost is calculated as:

$$\text{Daily Cost} = \text{Power Draw (kW)} \times 24 \text{ hours} \times \$0.10/\text{kWh}$$

The Gross Daily Revenue remains the same for all machines ($\approx \$4.75$ per $86 \text{ TH/s}$, based on current network difficulty and BTC price).

Metric	S19 86TH/S (34.5 J/TH)	S21 200TH/S (17.5 J/TH)	S21 XP Hydro 473TH/S (12 J/TH)
Hashrate ($H$)	$86 \text{ TH/s}$	$200 \text{ TH/s}$	$473 \text{ TH/s}$
Power Draw ($P$)	$2.97 \text{ kW}$	$3.50 \text{ kW}$	$5.68 \text{ kW}$
Gross Daily Revenue (USD)	$\mathbf{\$4.75}$	$\mathbf{\$11.05}$	$\mathbf{\$26.04}$
Daily Electricity Cost (at $0.10/kWh)	$\mathbf{\$7.12}$	$\mathbf{\$8.40}$	$\mathbf{\$13.63}$
Net Daily Profit (Loss)	$-\$2.37$	$\mathbf{+\$2.65}$	$\mathbf{+\$12.41}$
Operational Status	SHUTDOWN (Unprofitable)	OPERATIONAL (Low Margin)	OPERATIONAL (High Margin)

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Key Finding: The Critical Threshold

The comparison clearly shows that the higher electricity rate acts as a natural selection mechanism for mining hardware:

S19 86TH/S is Completely Unprofitable

At a common high rate of $\mathbf{\$0.10/kWh}$ (which is lower than many residential rates), the Antminer S19 86TH/S loses $2.37 per day just on electricity alone. This machine must be turned off or relocated to a jurisdiction with power costs well below $\mathbf{\$0.07/kWh}$ to be viable. It is effectively obsolete for all but the cheapest power environments.

S21 200TH/S Maintains Profitability

The modern Antminer S21 (17.5 J/TH) is able to absorb the high electricity cost due to its superior efficiency. It maintains a positive $2.65 daily profit, though its profit margin is narrow. This machine is viable, but vulnerable to future difficulty increases.

S21 XP Hydro Maintains High Margin

The top-tier S21 XP Hydro (12 J/TH) demonstrates the power of leading-edge efficiency.3 Despite consuming almost twice the power of the S19, its vastly superior $\text{J/TH}$ ratio allows it to generate a substantial $12.41 daily profit. This machine is designed to thrive even under moderately high operating costs, making it the clear winner for long-term viability and resilience against market volatility.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

That is the ultimate stress test for any ASIC miner. Calculating the break-even electricity price reveals the exact point at which a miner must shut down or risk operating at a loss.

The Break-Even Price Calculation

The break-even price is the electricity cost ($\$/\text{kWh}$) at which the Daily Electricity Cost equals the Gross Daily Revenue.

We can use the following simplified formula, where Gross Revenue is expressed as Revenue per Watt (RPW):

$$\text{Break-Even Price } (\$/\text{kWh}) = \frac{\text{Energy Efficiency } (\text{J/TH})}{\text{Constant } (3,600,000)} \times \text{Hashprice } (\text{USD per TH/s})$$

Alternatively, more intuitively:

$$\text{Break-Even Price } (\$/\text{kWh}) = \frac{\text{Gross Daily Revenue } (\text{USD})}{\text{Daily Kilowatt-Hours Consumed } (\text{kWh})}$$

We will use the Gross Daily Revenue figures and the known daily $\text{kWh}$ consumption from our previous analysis.

Metric	S19 86TH/S (34.5 J/TH)	S21 200TH/S (17.5 J/TH)	S21 XP Hydro 473TH/S (12 J/TH)
A. Gross Daily Revenue (USD)	$\approx \$4.75$	$\approx \$11.05$	$\approx \$26.04$
B. Daily Energy Consumed (kWh)	$71.2 \text{ kWh}$	$84.0 \text{ kWh}$	$136.3 \text{ kWh}$
C. Break-Even Price (A / B)	$\mathbf{\$0.067/\text{kWh}}$	$\mathbf{\$0.132/\text{kWh}}$	$\mathbf{\$0.191/\text{kWh}}$

 

Analysis of Break-Even Prices

The calculation provides a definitive cash-flow threshold for each machine:

Machine	Break-Even Electricity Price	Implications
Antminer S19 86TH/S	$\mathbf{\$0.067/\text{kWh}}$	This machine must find power below 6.7 cents/kWh to cover its electricity costs. This is lower than the industrial average in many developed regions, placing it firmly in the "obsolete" category unless a user has access to highly subsidized or stranded energy.
Antminer S21 200TH/S	$\mathbf{\$0.132/\text{kWh}}$	This machine can remain cash-flow positive with electricity costs up to 13.2 cents/kWh. This is the average commercial electricity rate in many countries, making it a viable option for miners who cannot access the absolute cheapest power.
Antminer S21 XP Hydro	$\mathbf{\$0.191/\text{kWh}}$	This machine offers the highest resilience, capable of running profitably with power costs up to 19.1 cents/kWh. This margin is large enough to cover high residential rates or provide a massive profit buffer at industrial rates, proving why efficiency is the most valuable asset in modern Bitcoin mining.

The break-even price highlights the continuous pressure on miners to upgrade. The $\text{S19}$ is effectively forced out of the market, while the $\text{S21}$ and the $\text{S21 XP Hydro}$ are designed to survive the high difficulty and volatility of the post-Halving Bitcoin environment.

 

 

That is an excellent next step. The relentless pursuit of efficiency has driven the evolution of ASIC technology far beyond simple fans and radiators.

Besides the air-cooled (S19/S21) and hydro-cooled (S21 XP Hydro) miners we've already compared, the major technological consideration for profitability and scaling is Immersion Cooling and the semiconductor node of the chip itself.

 

Next-Gen ASIC Technology to Consider

1. Immersion Cooling (The Efficiency Peak)

While hydro-cooling involves circulating water through dedicated plates on the miner (like a car engine), Immersion Cooling involves completely submerging the mining hardware (often with fans removed) into a tank of dielectric fluid (non-conductive mineral oil or engineered coolant).

Feature	Hydro-Cooled (S21 XP Hydro)	Immersion-Cooled (Aftermarket/Specialized)
Cooling Method	Sealed water blocks on specific components.	Full submergence of entire miner boards.
Efficiency Gain	Excellent ($\approx 12-15 \text{ J/TH}$)	Superior ($\mathbf{\approx 10-14 \text{ J/TH}}$)
Overclocking	Possible, but limited by internal miner heat spots.	Maximum Potential. Uniform cooling prevents all heat spots, enabling safe, high-power overclocking.
Hardware Longevity	Good, but exposed to dust and fan failure.	Excellent. Hardware is completely protected from dust, corrosion, and vibration (fans are removed).
Noise	Low ($\approx 50 \text{ dB}$) due to external radiators.	Silent. (Noise comes only from external pumps/chillers).
Infrastructure	Requires dedicated piping and external cooling unit (chiller/dry cooler).	Requires tanks, dielectric fluid (which is costly), and external heat rejection units.

The Takeaway: Immersion cooling delivers the absolute highest efficiency and lowest long-term maintenance costs, making it the default choice for large-scale, professional mining farms aiming for sub-$\text{12 J/TH}$ efficiency.

 

2. Semiconductor Node (The Core of Efficiency)

The $\text{J/TH}$ efficiency is primarily determined by the ASIC chip itself. The "node" refers to the manufacturing process size (in nanometers, $\text{nm}$) of the transistors on the chip. A smaller number means more transistors fit into the same space, leading to higher performance and lower power consumption per calculation.

Technology Node	ASIC Examples (Generation)	Efficiency Benchmark	Impact on Mining
7 nm	Antminer S19 Series	$\mathbf{30-35 \text{ J/TH}}$	The standard from 2020-2022. Now largely obsolete.
5 nm	Antminer S21 / WhatsMiner M60	$\mathbf{15-20 \text{ J/TH}}$	The current mainstream standard. Offers 40-50% better efficiency than $7 \text{ nm}$.
3 nm	Future Flagship Chips / Specialty ASICs	$\mathbf{<15 \text{ J/TH}}$	The next cutting edge. Ensures long-term competitive advantage against hash rate growth.

The Takeaway: The transition from $7 \text{ nm}$ (like your $S19 \text{ 86TH/S}$) to $5 \text{ nm}$ (like the $S21$) is why the newer machine achieves roughly twice the efficiency for the same power draw. Miners must constantly move to smaller nodes to survive difficulty increases.