I have been interested in buying an Antminer L7 lately and stay updated on the estimated profitability on asicminerprofitability.com. A couple months ago when it came out there would be an L7 there was a profit showing $150+ daily. I know this is of course not exact only an estimate as they have no even come out yet. But since they haven’t come out yet, what made the profit drop so much to only $110+ dollars a day! On some days that’s over $40 dollars a day! Litecoin dropped significantly in May but the 150+ profit was showing after the drop. Is it the algorithm it uses that is making it drop? What happened!
The difficulty adjusts as more miners work on the network. So when this batch comes out and people start to receive them and plug them in. Its at that point you can expect profitably to go down from its current projection
I agree but that can’t be the case for this miner, as the profit already went down when it has not even been shipped yet.
My point is to be cautious when buying hardware on preorder since the current projections are unlikely to be accurate. It is very possible though that Bitmain is already mining with the L7s and using the pre-order as a facade to convince people its necessary to wait.
Bitmain run the chips before they ship. Hash power is already online for alot of these.