Weekly Miner Margin Report: November 8, 2026
This is the November miner margin report, our weekly look at what bitcoin does to your machine. Hashprice rose 7.1% this week, from $32.25 to $34.56 per petahash per day. As a result, only the S21 Pro still makes money at 8 cents power, while the S19, S19k Pro and S19 XP lose money there. Also, we rebuild these numbers every Sunday from live network data, so you can see your margin move.
The November miner margin report: price, hashrate and hashprice
| Measure | A week ago | Now | Change |
|---|---|---|---|
| Bitcoin price | $77,521 | $75,903 | -2.1% |
| Network hashrate | 1087 EH/s | 995 EH/s | -8.5% |
| Difficulty | 148.4 T | 148.4 T | +0.00% |
| Hashprice ($/PH/day) | $32.25 | $34.56 | +7.1% |
In short, bitcoin moved -2.1% and the network hashrate moved -8.5%. Hashprice is bitcoin earned per day times price, divided by hashrate. Therefore both numbers matter. Also, block fees count, and the data comes from mempool.space.
Difficulty change this week
There was no difficulty adjustment this week. The last one was +5.54% on October 29. However, difficulty stays at 148.4 trillion.
Meanwhile, the next adjustment is at block 975,744, about 5 days away. Right now it is estimated at -4.69%, according to mempool.space. However, that estimate moves with block times.
First, a higher difficulty cuts hashprice. Second, a lower one raises it. Finally, the bitcoin price works in the same way, so watch all three.
Miner margin report: break-even shift, machine by machine
| Machine | Break-even a week ago | Break-even now | Shift | Daily profit at 8c, then | Daily profit at 8c, now |
|---|---|---|---|---|---|
| Antminer S19 | 3.9c | 4.2c | +0.3c | -$3.18 | -$2.96 |
| Antminer S19k Pro | 5.8c | 6.3c | +0.4c | -$1.37 | -$1.10 |
| Antminer S19 XP | 6.3c | 6.7c | +0.4c | -$1.23 | -$0.91 |
| Antminer S21 Pro | 9.0c | 9.6c | +0.6c | $0.81 | $1.35 |
In other words, break-even is the most you can pay per kilowatt-hour before the machine loses money. First, the Antminer S21 Pro held up best, with a shift of +0.6 cents. Next, the Antminer S19 shifted most, at +0.3 cents. Overall, only the S21 Pro still makes money at 8 cents power, while the S19, S19k Pro and S19 XP lose money there.
Live Miner Math: what each machine earns today
The live Miner Math table for this Sunday
Here is the live maths on November 8. Bitcoin is $75,903 and the network is 995 EH/s, so hashprice is about $34.56 per petahash per day. That is what one PH/s of hashing earns before power.
| Machine | 5c/kWh | 8c/kWh | 12c/kWh | Break-even |
|---|---|---|---|---|
| Antminer S19 (95 TH/s, 3250 W) | -$0.62 | -$2.96 | -$6.08 | 4.2c |
| Antminer S19k Pro (115 TH/s, 2645 W) | $0.80 | -$1.10 | -$3.64 | 6.3c |
| Antminer S19 XP (141 TH/s, 3010 W) | $1.26 | -$0.91 | -$3.80 | 6.7c |
| Antminer S21 Pro (234 TH/s, 3510 W) | $3.87 | $1.35 | -$2.02 | 9.6c |
Numbers are profit per day after electricity, at the three power prices shown. Break-even is the most you can pay per kilowatt-hour before the machine loses money. Specs are the manufacturer ratings; network data comes from mempool.space. Try your own power price in our free bitcoin mining profit calculator. See what these machines really sold for in our used ASIC miner price index. Want to run the same numbers on a machine you can buy today? See our used ASIC miners, or buy several at once through bulk lots.
The three biggest mining stories of the week
Here are the stories that mattered most to miners this week. Also, each one has its own Miner Math section, so you can see what it did to your margin.
First, Free embeddable bitcoin mining widgets (hashprice, difficulty countdown, profit check). As a result, check the Miner Math in that story.
Next, IREN AI Revenue Passes Bitcoin Mining: What It Means for ASIC Owners. IREN AI revenue passed its bitcoin mining revenue for the first time: $70.5 million to $66.7 million. The numbers, the caveats, and what it means for ASIC owners. As a result, check the Miner Math in that story.
Finally, Free interactive bitcoin mining profit calculator (live data, ASIC machines). As a result, check the Miner Math in that story.
What next week’s calendar means for miner margins
In this miner margin report, here is what is on the calendar for the coming week, and what each date could do to the S19k Pro break-even. We use a 5% bitcoin move as the yardstick, because that is a normal reaction to a big date. After that, we show the effect of a 5% fall and a 5% rise.
Tuesday, Nov 10: 30 AM: October CPI
Also, Tuesday, Nov 10: 30 AM: October CPI. The Fed is in a hiking cycle with two hawkish dissents, so CPI decides whether the December hike goes ahead. A hot print hurts BTC and the high-beta miner stocks. First, watch how bitcoin reacts, because the price drives hashprice. Source.
Tuesday, Nov 10: 00 AM: Bitdeer (BTDR) Q3 2026 results
Also, Tuesday, Nov 10: 00 AM: Bitdeer (BTDR) Q3 2026 results. Bitdeer is both a miner and an ASIC maker (SEALMINER), so the call gives a read on next-generation chip shipments, ASIC pricing and self-mining hashrate. It also lands on CPI day. Second, watch how bitcoin reacts, because the price drives hashprice. Source.
Wednesday, Nov 11: SEC deadline on Nasdaq ISE generic listing rule for options on spot crypto ETFs (SR-ISE-2026-42)
Also, Wednesday, Nov 11: SEC deadline on Nasdaq ISE generic listing rule for options on spot crypto ETFs (SR-ISE-2026-42). Generic standards would let options list on any spot-crypto ETF without case-by-case approval, which would deepen altcoin-ETF liquidity. Third, watch how bitcoin reacts, because the price drives hashprice. Source.
Thursday, Nov 12: 09 UTC): Bitcoin difficulty adjustment, block 975,744
Also, Thursday, Nov 12: 09 UTC): Bitcoin difficulty adjustment, block 975,744. The two prior adjustments were +5.92% and +5.54%, which pushed hashprice to about $33/PH/day. The current estimate is roughly flat (+0.34%), with 1,577 blocks remaining as of Nov 1. mempool.space estimates this one at -4.69% right now. If it lands there: the break-even power price on an S19k Pro rises from 6.3 to 6.6 cents per kilowatt-hour. At 8 cents, daily profit goes from -$1.10 to -$0.91. Source.
If a big date knocks bitcoin down 5%: the break-even power price on an S19k Pro falls from 6.3 to 5.9 cents per kilowatt-hour. At 8 cents, daily profit goes from -$1.10 to -$1.30.
On the other side, if bitcoin rises 5%: the break-even power price on an S19k Pro rises from 6.3 to 6.6 cents per kilowatt-hour. At 8 cents, daily profit goes from -$1.10 to -$0.91.
Our read of the miner margin report
In this November miner margin report, margins improved this week. Today, only the S21 Pro still makes money at 8 cents power, while the S19, S19k Pro and S19 XP lose money there. So the rule is simple: if your power costs more than the break-even column, the machine loses money. For help, our ASIC miner electricity rate guide shows how to read your bill. Besides this, we track the same numbers daily on bitcoin mining profitability today. In addition, the mining economics guides work through payback on real machines. If the maths says it is time to get out, we also buy used miners.
-Nick
ING Mining
This is general information, not financial advice. Crypto is volatile, and you can lose money. Please do your own research.
How this story was made: drafted with the help of AI tools from public sources, then edited by Nick Squires. See our editorial policy. Spot an error? Email ns@ingmining.com.