On September 20, 2024, Bitmain unveiled its latest bitcoin mining machine, the Antminer U3S21EXPH, boasting a massive 860 terahash per second (TH/s). This next-generation hydro-cooled ASIC is 81.81% faster than its predecessor, the Antminer S21 XP Hydro (473 TH/s), and a staggering 477,677% more powerful than the very first Antminer S1 from November 2013, which managed only 0.18 TH/s.
From 0.18 TH/s to 860 TH/s: ASIC Performance Ceiling Still Out of Reach
Rewind to late 2013: Bitcoin’s network hashrate stood at just 5 PH/s (5,000 TH/s), and Bitmain’s Antminer S1 delivered a meager 180 GH/s. Over the following years, the company rapidly iterated: the S2 hit 1 TH/s in early 2014, followed by the S3, S4, and S5. By 2016-2017, the S9 series (10–14.5 TH/s) became the workhorse of the network, at one point accounting for more than half of Bitcoin’s total hashrate. Meanwhile, competitors like Kncminer, Butterfly Labs, and Gridseed faded away, leaving Bitmain, Canaan, and Microbt among the few surviving manufacturers.
Fast forward to September 7, 2024: Bitcoin’s seven-day average hashrate reached an all-time high of 693 EH/s (693,000,000 TH/s) — a 138,600-fold increase from late 2013. The once-mighty Antminer S9, which generated about $10.83 daily in March 2018 at $0.10/kWh, now loses roughly $2.70 per day at $0.04/kWh and a hashprice of $0.0438/TH/s.
U3S21EXPH: 81% Leap and $34 Daily Profit
The U3S21EXPH is not only a generational leap in raw power but also in profitability. At an electricity cost of $0.04 per kWh, the machine is projected to generate $34.36 in daily profit (excluding the unit’s purchase price). Bitmain currently sells older-generation machines at $23–$27 per TH/s; at the lower end, one U3S21EXPH could cost around $19,780.
Despite the hefty price tag, the U3S21EXPH demonstrates that ASIC innovation is far from plateauing. The jump from 473 TH/s to 860 TH/s in a single generation signals that the Zettahash era (1 Zettahash = 1,000 EH/s) is imminent. Bitmain has proven over 11 years that as long as Bitcoin mining remains economically viable, hashrate will continue its relentless upward march.
Do you think ASIC miners will ever hit a performance ceiling? Share your thoughts in the comments below.