Short answer: For buying and hosting a Bitcoin miner in November 2026, the Bitdeer SealMiner A4 Pro Air is the best value (10.9 J/TH, about 9.5 months' payback hosted), the Antminer S23 Hyd earns the most per kWh (9.5 J/TH), and the Antminer S21+ is the cheapest way in with the fastest simple payback (about 8 months). Older 18–19 J/TH models only work on very cheap power.
We compared thirteen SHA-256 miners we sell, using spec-sheet hashrate and power, today's hashprice ($0.0332 per TH/day, Hashrate Index, 2 November 2026) and our current prices. Payback assumes hosting at our Paraguay rate of $0.0152/kWh.
Head-to-head: all thirteen models
| Miner | Cooling | TH/s | W | J/TH | Our price | $/TH | Net/month hosted | Payback |
|---|---|---|---|---|---|---|---|---|
| SealMiner A4 Pro Air | Air | 336 | 3,662 | 10.9 | $2,836 | $8.4 | $299 | ~9.5 mo |
| Antminer S21+ | Air | 235 | 3,877 | 16.5 | $1,560 | $6.6 | $194 | ~8 mo |
| WhatsMiner M73S | Hydro | 500 | 7,200 | 14.4 | $4,920 | $9.8 | $425 | ~11.6 mo |
| SealMiner A3 Pro Hydro | Hydro | 660 | 8,250 | 12.5 | $6,849 | $10.4 | $575 | ~11.9 mo |
| WhatsMiner M60S | Air | 186 | 3,441 | 18.5 | $1,789 | $9.6 | $150 | ~12 mo |
| Antminer S21 XP | Air | 270 | 3,645 | 13.5 | $2,907 | $10.8 | $232 | ~12.5 mo |
| WhatsMiner M70S | Air | 226 | 3,140 | 13.9 | $2,547 | $11.3 | $193 | ~13.2 mo |
| Avalon A16XP | Air | 300 | 3,850 | 12.8 | $3,570 | $11.9 | $260 | ~13.7 mo |
| Antminer T21 | Air | 190 | 3,610 | 19.0 | $2,099 | $11.0 | $152 | ~13.8 mo |
| SealMiner A3 Pro Air | Air | 290 | 3,625 | 12.5 | $3,816 | $13.2 | $252 | ~15.1 mo |
| Antminer S21 XP Hyd | Hydro | 473 | 5,676 | 12.0 | $6,499 | $13.7 | $414 | ~15.7 mo |
| Antminer S23 | Air | 318 | 3,498 | 11.0 | $4,799 | $15.1 | $282 | ~17 mo |
| Antminer S23 Hyd | Hydro | 580 | 5,510 | 9.5 | $11,198 | $19.3 | $524 | ~21.4 mo |
Net per month = (hashprice × TH/s − kWh/day × $0.0152) × 30.4. Payback is simple payback at today's hashprice, before pool fees and with no change in difficulty — so treat it as a comparison tool, not a forecast. Prices as listed on 2 November 2026.
Why the cheapest payback isn't always the best buy
Payback rewards cheap hardware. Resilience rewards efficiency. The two diverge as soon as hashprice falls or your power price rises. Look at each machine's break-even power price — the electricity cost at which it stops earning:
| Efficiency band | Examples | Break-even at $33/PH/day | Net/day at $0.08/kWh |
|---|---|---|---|
| ≤ 11 J/TH | S23 Hyd, A4 Pro Air, S23 | $0.126–0.146/kWh | $3.84–8.68 |
| 12–14 J/TH | S21 XP, A16XP, A3 Pro, M70S | $0.100–0.115/kWh | $1.47–6.07 |
| 16.5 J/TH | S21+ | $0.084/kWh | $0.36 |
| 18.5–19 J/TH | T21, M60S | $0.073–0.075/kWh | Loss |
The S21+ pays back fastest on paper because it costs $1,560, but at $0.08/kWh it earns 36 cents a day. If hashprice slipped 20% it would struggle even on hosted power, while the S23 family would still clear a profit. That is the trade: cheap machines are a bet that conditions stay as they are; efficient machines are insurance against them getting worse.
Which miner for which buyer
Best all-round value: SealMiner A4 Pro Air. 10.9 J/TH at $8.4 per TH is an unusual combination — near-flagship efficiency for less than an S21 XP. Air-cooled, so it suits cool sites such as Norway, Finland or Kazakhstan.
Best on a small budget: Antminer S21+. The cheapest entry ticket with the shortest simple payback — but only on hosted power under about $0.05/kWh.
Best for the long haul: Antminer S23 Hyd. The most expensive here, and the slowest payback, but it keeps earning at $0.146/kWh. If you believe hashprice will be lower in two years — it usually is between halvings — this is the safest machine. Hydro cooling makes it ideal for hot sites such as Paraguay or the UAE.
Best large hydro unit: SealMiner A3 Pro Hydro. 660 TH/s in one machine, $575 a month net hosted, and about 12-month payback.
Proven workhorse: Antminer S21 XP. The most widely deployed of the 13.5 J/TH generation, with a well-understood track record. Our full S21 XP review covers noise, cooling and setup.
Avoid unless power is very cheap: T21 and M60S. Both lose money above $0.075/kWh at today's hashprice.
Air, hydro or immersion?
Air-cooled machines are simplest and cheapest, but derate in heat. Hydro (water-cooled) units like the S23 Hyd and A3 Pro Hydro need facility plumbing — which is one reason they are mostly bought for hosting — and hold their rated hashrate in hot climates. If you plan to host, choose cooling by site: hydro for Paraguay, Georgia and the UAE; air for the Nordics, Kazakhstan and Canada. See all locations on the hosting page.
Bottom line
At November 2026's hashprice, every machine here is profitable on hosted power, and the cheapest paybacks run 8–12 months. Pick by how much risk you want to carry: low-cost machines for speed, sub-11 J/TH machines for staying power. Compare live numbers for every model on our profitability ranking, browse Antminer, WhatsMiner, Avalon and SealMiner ranges, or read this month's profitability report.
Specs from manufacturer data via Hashrate Index and ASIC Miner Value; nameplate figures are ±5%. Mining income is not guaranteed. Updated 2 November 2026.