Antminer S7 Review – Can this still Make you Money?

Antminer S7 was a popular miner a few years back, in this Antminder S7 review, we take a step back and check if the miner is still profitable considering the various updates the mining niche has seen. We’ve provided some profitable alternatives in the end of the article, do not miss on that.

Antminer S7: Getting Started

antminer s7 review

Now to make your job of looking for a miner easier, we are going to review the much talked about Antminer S7 in this article. Antminer is a brand name, fairly popular in the world of cryptocurrency mining, that caters specifically to Bitcoin mining ASIC hardware.

The S7 happens to be one of the many others in a long line of mining rigs launched by Antminer, all of which happen to have unique specifications of their own and cater to different types of audiences based on their specs.

It is one of the most popular sets ever launched by the company and even though it was launched back in 2015, it still continues to bring in customers owing to its unique set of properties and mass appeal.

One of the reasons why the S7 is as popular as it is and is currently entering its 19th batch of production is because it offers a fairly high hash rate as per the amount of power it consumes. For any other machine with a similar hash rate, the power consumed will most likely be much higher and yet the S7 does it economically. Affordable pricing and strong performance were driven operation are two more much-coveted factors that seem to give the S7 an edge over the others.

Powered by a 28nm BM1385 ASIC chip, the S7 consists of as many as 135 of such power chips which are spread across three different boards and the temperature is regulated using dual fans mounted inside the system. A simple tongue and groove system for the metal casing allow for impeccably neat and organized arrangement of multiple miners.

Profitability

Bitmain’s Antminer S7 is one of the most popular Bitcoin mining rigs of its time as it provides a hashrate of 4.73 Th/s with a power consumption of 1293 watts per hour. 

Nonetheless, Antminer S7 will no longer give you profits on your mining operations. 

After the recent Bitcoin reward halving event in May 2020, you now get 6.25 BTCs per new Bitcoin block mined. The average electricity cost of a U.S. household stands at 13 cents per kW/h. 

If we take into account all these factors – the hashrate of Antminer S7, its power consumption, Bitcoin block reward, mining difficulty, the current Bitcoin price, and average electricity costs; you will incur a loss of $2.35 every day if you mine Bitcoins using Antminer S7. 

Antminer S7 is not profitable as you will lose $844 annually if you use the mining rig for mining Bitcoins. You can break even or perhaps make small profits only if you manage to get electricity at very cheaper rates. 

Power Supply

The best fit for a power supply with the Antminer S7 is possibly the 1600 Watt APW3 power supply unit by Bitmain. This unit has been specially designed to work in conjunction and supply power to Bitcoin miners. One of its most noteworthy characteristics includes being highly power efficient as it loses only a marginal 7% of the power between the miner and the outlet.

As per requirements, it would need a minimum of 205 Volts to function at full capacity and does not actually come packaged with the 16A power cord which is necessary to carry out operations. Now while the APW3 is by no means an affordable unit, it can actually prove to be an economical deal for you as it will always support any future upgrades you wish to make on your miner. It will, for example easily support the much talked about, performance-driven but power hungry device from the same line-up, the S9.

If not for the APW3, you can actually use any ATX PSU, provided it is of sufficient wattage, in order to run your Antminer S7.

Price

Now while the S7 has been already been in stores for a good amount of time, there has been a substantial price drop associated with it over the years. Initially, it was launched at a good $2000, similar to the S9 at its current rate. However, today, the price of the S7 has dropped substantially to $440 at Bitmain, excluding shipping charges. Other than that, it is available for $545 or $500 from eBay depending on whether you choose the new or the second-hand model.

As per the S7-LN excluding shipping and a $439 on eBay for the new and second-hand models respectively. Now as new models keep entering the market, and devices like S9 prove to be the new crowd favorites, the prices of the S7 are expected to drop even further down.

Power Consumption

As per power considerations, the S7 draws a decent 1293 Watts of power at room temperature. Temperature happens to be a factor in this since the hotter the surrounding environment gets, more will be the energy expended by the fans to keep the unit sufficiently cool. Compared with the S5, the S7 is twice as efficient in the energy department and only asks for a decent 0.25 J of power per Gigahash.

As for the Lite version, or the S7-LN, it draws about 700 W and consumes somewhere around 0.25 J/GH.

Temperature

There is an ambient temperature which must be maintained while operating a BTC miner. In case the device gets much hotter than the prescribed temperature, it will get increasingly tough for the fans to keep the unit cool and as a result, your power consumption will increase drastically along with the rise in performance problems.

Since the S7 normal and lite versions both are cooled by similar dual 12038 fans, it actually makes sense that both of them require about the same 40^C-70^C to operate at full capacity and without any hiccups.

Antminer S7 Alternatives

Antminer S9 SE (16 Th/s) and Antminer S11 (20.5 Th/s) are profitable alternatives to Antminer S7. 

Antminer S9 SE has a maximum hashrate of 16 Th/s for 1280 watts per hour. If we consider the average electricity costs of 13 cents per kW/h and a block reward of 6.25 BTC, Antminer S9 SE gives you a profit of $1.21 per day taking your profits to $434 annually at the current rate of Bitcoins. 

On the other hand, Antminer S11 provides 20.5 Th/s and consumes 1530 watts of electricity every hour. If we do the math, Antminer S11 gives you double the profits of Antminer S9 SE. With Antminer S11, you can make $2.33 each day, which translates to $850 a year in profits. 

Verdict

If we look at the average electricity rates, the increasing mining difficulty of the Bitcoin network, and the Bitcoin block reward alongside the hashrate and power consumption of the Antminer S7, it is clear that mining Bitcoins with Antminer S7 is not profitable.

If you want to make good profits on your mining operations, you should consider purchasing Bitmain’s Antminer S11 model.

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