Our article is a review of the Bitcoin miner Antminer S17 released in 2019. It was a huge release by Bitmain company, one of the leading players in mining hardware production.
In 2019, they announced and released this ASIC miner. It is suitable for coins using the SHA-256 algorithm. That is, it is used for Bitcoin and Bitcoin Cash.
This review will touch upon this miner’s main advantages and disadvantages and compare it with direct competitors.
Antminer S17 Review Summary
For those who doubt whether it is worth reading our entire review and create an Antminer account, let’s say right at the beginning — Antminer S17 is a profitable ASIC miner in the current conditions. With its use, you will receive a positive return on investment. While cheaper products for mining Bitcoins can be found now, you can use the Antminer S17 if it is available to you at an attractive price.
Read below to find out more details about this product.
Antminer S17 Features
Bitmain has worked hard on the Antminer S17. They were able to improve it greatly compared to their predecessor miner, the Antminer S15. First of all, hashing power has been increased.
For a visual comparison:
- Antminer S15 hash rate is 18 to 28 terahash per second (Th/s)
- Antminer S17 hash rate is 50 to 56 terahash per second (Th/s)
This is an amazing result. Finally, Bitmain was able to do something that impressed everyone to provide the highest experience.
The work of this miner is based on the second-generation BM1397 chip (7-nanometer chip architecture). As with the previous S15 miner, the Antminer S17 does not need an additional power supply system. It comes with a PSU attached to the miner’s chassis.
Antminer S17 Specs
As we said above, this miner hash rate can reach from 50 to 56 Th/s. The specific hash rate depends on the batch and product version.
Let’s talk separately about the power consumption of this product. It depends on several factors and can range from 39.5 Joules per terahash (J/TH) up to 45 J/TH. The fans of the miner consume a significant part of the energy. Therefore, if you want to reduce the load on the power grid, you need to support a cool environment and good ventilation for your mining equipment.
On average, about 2094-2568 watts per hour are consumed at normal ambient temperatures.
Antminer S17 and Antminer S17 Pro
The manufacturer decided to release two models named Antminer S17 and Antminer S17 Pro. The fundamental difference between the two mining equipment units is the power management modes of these ASIC. This feature was first introduced in the S15.
The Antminer S17 has two modes, while the S17 Pro has three power modes:
- Antminer S17 and S17 Pro — Low Power and Normal modes
- Only Antminer S17 Pro — Turbo mode
Such modes are needed by professionals for successful management in their mining operations. Electricity is one of the main consumption items for miners, so the ability to adjust it is a very advantageous function for them.
Antminer S17 Performance
There are 4 modifications of Antminer S17, depending on the hash rate. Below you will find some of the specs claimed by the manufacturer. You can contact the support crew to check up-to-date specs.
- Antminer S17 Pro – 53 TH/s
Please check the link.
- Antminer S17 Pro – 50 TH/s
Please check the link.
- Antminer S17 Pro 56 TH/s
Please check the link.
- Antminer S17 Pro 53 TH/s
Please check the link.
From these tables, you can see that all machines use the same crypto algorithm — SHA 256. The difference lies in their power and hash rate.
Antminer S17 ROI
ROI is short for return on investment. Below we will use the Bitcoin mining calculator to understand what this indicator is for the ASIC Antminer S17.
It is worth mentioning right away that all Antminer S17 and S17 Pro sales went really great. They were sold out from the manufacturer’s website in about 5 minutes. That is, now, if you want to buy this miner, you will have to contact resellers, and this is not always profitable. Many sellers of backed miners put exorbitantly high prices on their products, which are very difficult to recoup. Therefore, it is worth counting everything and thinking carefully before making these purchases.
To make the right decision, you need to understand how long it will take to recoup not only the purchase of the miner itself but also how much money will be spent on paying for its operation and service. The shorter this period, the better and the more likely it is to recoup your venture.
Competition in the mining industry is growing rapidly, and this is also worth keeping in mind when making calculations.
Take a look at the calculations in our Bitcoin mining calculator. It is based on Antminer S17 56 TH/s:
Please note that these calculations are relevant only at the time of writing this article and at the time of the calculation itself.
With the figures shown in the table above, the Antminer S17 will pay for itself in about a year. But if there are great changes in the cost of electricity or the bitcoin rate, then this term will change.
To increase your profits, it is worth finding an area with low electricity prices. This is one of the main expenses of professional miners, so minimizing it will greatly help the process.
The next important expense is the Antminer S17 Pro or S17 itself. The ideal and most profitable option would be to buy it directly from the manufacturer — Bitmain company. But most likely, you will have to look for it from dealers. In this case, the miner will cost you more, and accordingly, it will take more time for its payback.
Use our Bitcoin mining calculator to enter your metrics and determine ROI that is relevant to your situation. Our system will show the result that is closest to reality.
Community Adoption and Competition
When Bitmain released their Antminer S17, they decided to target individual miners first. Therefore, it was decided to limit the maximum order to 10 units. At the same time, large companies all over the world were still able to introduce these SHA 256 miners into their everyday life, for instance, an Asian venture capital firm called Fundamental Labs (they invested $44 million), as well as other large companies and mining farms.
In the cryptocurrency sphere, there is extensive debate about the competition between Bitmain, MicroBT, and InnoSilicon. But we can say that InnoSilicon miners are still inferior in quality to other manufacturers. Their products are not as efficient and fast as the named competitors.
But the Chinese company MicroBT launched a worthy competitor on the market — Whatsminer M20S. Its performance is more decent. It gets 70 th/s for 47 J/th electrical efficiency rate, which works out to about 3360 Watts per hour.
To Sum Up
Summing up our review, we can say that a Bitmain product can be a great solution if purchased directly from the manufacturer. Buying these ASIC miners from a reseller will cost consumers a lot more money. This can negatively affect efficiency. For the customer to make the right choice, we recommend using the Bitcoin mining calculator. But remember that the mining market is subject to great changes; increasing the profitability even for 2-3 months can have an unpredictable effect. The cost of Bitcoin can change at any value, while the price of electricity usually only grows.
Bitmain has established itself as one of the best producers of mining equipment, but they now have a strong competitor in the form of MicroBT. If you do not have the opportunity to buy the Antminer S17 at the retail price set by Bitmain, then it may be more profitable for you to take a closer look at MicroBT.
How long does an Antminer last?
ASIC Antminer usually has a lifespan of 2.5 years. This also applies to the Antminer S9, and the same period is for the S17 and newer machines. You need to know the lifespan of this product to reliably calculate whether you can, in principle, recoup such purchases, or they make no sense.
Is Bitcoin mining profitable in 2020?
With the collective hash rate in 2020 hitting all-time highs, the profit from mining bitcoin has been minimal for most of the year. But it is worth remembering that your value depends on many factors, including equipment price, exchange rate, energy costs, shipping fees. You can use the Bitcoin mining calculator to calculate the approximate values in your specific case. If you managed to buy a good miner at a pleasant price and find access to inexpensive electricity, then you have every chance of achieving greater efficiency than most people and gaining a positive experience in the mining world.
Are Bitcoin mining rigs worth it 2020?
There is no definite answer to this question. In many ways, the success of Bitcoin mining depends on your luck, ingenuity, and of course, your capabilities. If you have access to miners and bitcoin mining computers at reasonable prices and low shipping fees and know where you can get inexpensive electricity, then you may be making a good profit. But overall, 2020 was the worst time for Bitcoin mining. The number of computing power pulsing through the network has reached record levels. To be successful in this area, you need to follow the news, read reviews, and keep your finger on the pulse. This will help you to choose the right miner and service for you.
What are the most profitable Bitcoin mining rigs?
Among the most profitable Bitcoin miners are products from Bitmain. At the moment, people may pay attention to its ASIC SHA 256 unit — Antminer S19 Pro. The profitability of units depends on whether you have the option to purchase them directly from manufacturers or at least at a more or less acceptable price. If the latest version is not available at a good price, it may be more beneficial to purchase an earlier option miner. Other interesting products include WhatsMiner M30S +, Avalon Miner 1246. You can check other reviews on our website to choose the right miner model and service or to write a comment about your opinion.