WhatsMiner M78S — 挖矿盈利能力
概述
The Whatsminer M78S is MicroBT's December 2025 high-density air miner, delivering 472 TH/s at 13.88 J/TH and 6,550 W. It is the air flagship of the M78 series, doubling the hashrate of the M70S in a similar form factor at the cost of higher per-chassis power draw. The M78S targets large datacenters and hosting providers consolidating fleets — fewer machines, fewer hashboards, lower service overhead per PH/s. Within the M-series lineup it sits above the M70S (226 TH/s) and below the M78S Hydro and other hydro variants. It competes with Bitmain's Antminer S23 (318 TH/s, 11 J/TH) on density and with the S21 XP (270 TH/s, 13.5 J/TH) on $/TH at the same efficiency tier.
查看术语表 →规格参数
算力
472 TH/s
功耗
6,550W
能效
13.88 J/TH
散热方式
Air
发布日期
December 2025
Est. $/TH
$21.1/TH
制造商
MicroBT
实时盈利能力
2028 减半的影响
The April 2028 halving cuts the block subsidy from 3.125 to 1.5625 BTC, mechanically halving the hashprice. At today's hashprice ($38/PH/day), the Whatsminer M78S at 0.472 PH/s generates ~$18/day in gross revenue. Post-halving, that drops to ~$9/day at constant BTC price. Break-even electricity tightens from ~$0.115/kWh today to ~$0.057/kWh post-halving. At 13.88 J/TH the M78S sits at the same post-halving viability line as the M70S — comfortable on industrial-rate power, marginal on retail. The higher per-chassis power (6.55 kW) makes site planning more demanding but rewards consolidation.
查看减半倒计时 →与类似机型对比
WhatsMiner M70S
226 TH/s · 13.89 J/TH · Air
Avalon A16
282 TH/s · 13.83 J/TH · Air
Sealminer A3
260 TH/s · 14 J/TH · Air
常见问题
Is the Whatsminer M78S profitable today?▾
At the current hashprice ($38/PH/day), the M78S generates ~$18/day in gross revenue. Net profitability depends linearly on electricity: at $0.04/kWh you keep a strong margin; at break-even ($0.115/kWh) you clear zero; above that, the machine operates at a loss. The M78S' density makes it economically attractive for sites where rack space and service overhead are the binding constraints.
What's the break-even electricity cost for the Whatsminer M78S?▾
At the current hashprice ($38/PH/day), break-even sits at ~$0.115/kWh. The formula: daily revenue (0.472 PH/s × hashprice) divided by daily energy consumption (6.55 kW × 24h = 157 kWh) gives the kWh price at which gross revenue equals electricity cost. Apply 2% pool fee and the practical ceiling drops slightly. After the 2028 halving, break-even tightens to ~$0.057/kWh.
How does the 2028 halving affect the Whatsminer M78S?▾
The halving halves the hashprice. For the M78S at 0.472 PH/s, gross daily revenue drops from ~$18 to ~$9 at constant BTC price. Break-even electricity tightens from ~$0.115/kWh to ~$0.057/kWh. At 13.88 J/TH the M78S sits at the borderline post-halving — viable on industrial-rate hosting, marginal on retail. Operators planning post-halving operations typically pair the M78S with low-cost power contracts or relocate to cheaper-energy regions.
What's the lifespan of a Whatsminer M78S?▾
Air-cooled ASICs typically last 4–6 years in a clean datacenter environment. The M78S launched December 2025 and is at the start of its lifecycle. Plan a 4–5 year productive window with the 2028 halving as the inflection point. MicroBT's Whatsminer line has a strong reliability track record; the constraint is economic (efficiency vs newer gens), not physical wear.
Whatsminer M78S vs Antminer S23 — which one wins?▾
Bitmain's S23 wins on raw efficiency: 11 J/TH versus 13.88 J/TH for the M78S — about 21% better. The M78S wins on $/TH at MSRP (typically 5–10% cheaper) and on supply-chain diversification when Bitmain queues are constrained. For operators above $0.05/kWh, the S23's better J/TH compounds over a 4-year cycle and the post-halving margin buffer is meaningful. For operators chasing aggressive $/TH economics or seeking a Bitmain alternative, the M78S is the standard pick.