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Antminer S21 XP Review 2026: Is It Worth It at EU Electricity Prices?

Antminer S21 XP balanced on a seesaw between a Bitcoin coin and a power plug
  • With Nordic hosting from €0.09/kWh the S21 XP earns about +€24 a month at today's Bitcoin price. On a household rate of €0.20/kWh it loses about €269 a month.
  • Break-even is €0.099/kWh for the S21 XP and €0.111/kWh for the S21 XP Hydro (difficulty 140.578 T, BTC €71,705, 26 October 2026).
  • At 13.5 J/TH it is one generation behind the Antminer S23 at 11 J/TH.

At today's Bitcoin price the Antminer S21 XP earns a little with hosting at €0.09/kWh, about +€24 a month, and loses about €269 a month on a €0.20/kWh household tariff. Monthly cash flow is thin, so the case for it rests on a rising Bitcoin price: with BTC 20% higher it makes €77 a month on hosting, and with a doubled price €287. Below you will find the specifications, profit at different electricity prices, comparisons with the Hydro version and the newer machines, and who the S21 XP still makes sense for.

Updated: 26 October 2026

Antminer S21 XP: specifications

Bitmain released the Antminer S21 XP in October 2024 (reported) as the flagship of its air-cooled Bitcoin miners. Efficiency comparisons use its 13.5 J/TH as the reference for a modern air-cooled ASIC.

ParameterS21 XPS21 XP Hydro
AlgorithmSHA-256 (Bitcoin, Bitcoin Cash)SHA-256 (Bitcoin, Bitcoin Cash)
Hashrate270 TH/s473 TH/s
Power3,645 W5,676 W
Efficiency13.5 J/TH12 J/TH
CoolingAir, 4 fans (Bitmain lists)Water (hydro)
NoiseAbout 75 dB (reported)No fans on the unit itself; noise comes from the external cooler
Operating temperature5–45 °C (Bitmain lists)Depends on the cooling circuit
Dimensions400 × 195 × 290 mm (Bitmain lists)n/a

How much does the Antminer S21 XP earn in 2026

At the 26 October 2026 difficulty of 140.578 T and a Bitcoin price of €71,705 ($80,270, CoinGecko), the network hashprice works out to about $35.9 per PH/s per day. An S21 XP at 270 TH/s mines about 0.000121 BTC a day, worth €8.66 before pool fees. Consumption is fixed at 87.5 kWh a day, so the result depends on the price of your electricity (a month is 365/12 days):

Electricity priceElectricity per dayResult per dayResult per month
€0.07/kWh (cheap electricity)€6.12+€2.53+€77
€0.09/kWh (our hosting)€7.87+€0.78+€24
€0.15/kWh (business rate)€13.12−€4.46−€136
€0.20/kWh (household example)€17.50−€8.84−€269

The break-even point is therefore about €0.099/kWh. Below it the machine earns; above it, it loses money. Our hosting from €0.09/kWh (Norway / Finland) sits just under that line, so the S21 XP earns a little there. Household tariffs in the EU run from €0.11 to €0.40/kWh (Eurostat), all of them above break-even. For the wider picture of why Bitcoin is the hardest coin to make money on today, and for current numbers, use the live profitability comparison.

Profit per day at EU electricity prices

Electricity price per kWhS21 XP, result per dayS21 XP Hydro, result per day
€0.05+€4.28+€8.36
€0.08+€1.66+€4.27
€0.10−€0.09+€1.54
€0.12−€1.84−€1.18
€0.15−€4.46−€5.27
Break-even (€/kWh)€0.099€0.111

Why mining calculators show different numbers

Calculators disagree because they feed in different inputs. Some use the difficulty of a single day, others a 30-day average, and the two drift apart after every two-week adjustment. Transaction fees added about 0.58% on top of the block subsidy over the last 30 days (mempool.space); some tools include them and others leave them out. Pool fees, which each pool sets itself, take a further cut that many tools omit. Each tool also picks its own Bitcoin price, often from a different hour. The tables here use the subsidy only, one stated difficulty and one stated price, so you can reproduce every figure.

The S21 XP as a bet on the Bitcoin price

The tables above show today only. Miner income follows the BTC price directly, so here is what happens when the price moves, with difficulty unchanged and hosting at €0.09/kWh:

BTC price against todayResult per month (hosting)
−20%−€29
today's price (€71,705)+€24
+20%+€77
+50%+€156
+100%+€287

When you buy an S21 XP, you take a position on the Bitcoin cycle; today's profit is small. Machines bought near the market bottom have reportedly resold for several times their price in the following rally; in 2021 this was reported for the S19 and the Z15. Difficulty tends to rise along with the price as more machines switch on, so read the table as closer to an upper estimate. On the lower side, at €0.09/kWh the machine stays above zero until BTC falls about 9% to roughly €65,200. At home at €0.20/kWh the Bitcoin price would have to roughly double before the machine reaches zero.

Air or water: S21 XP vs S21 XP Hydro

The Hydro version delivers 473 TH/s at 12 J/TH and on hosting at €0.09/kWh makes +€88 a month against +€24 for the air-cooled model. Its break-even is €0.111/kWh, so it has a little more headroom. At €0.07/kWh it earns €171 a month against €77.

S21 XP (air)S21 XP Hydro
Hashrate270 TH/s473 TH/s
Power3,645 W5,676 W
Efficiency13.5 J/TH12 J/TH
CoolingAir, 4 fansWater (hydro)
NoiseAbout 75 dBMuch lower
InfrastructureSingle-phase 230 V, dedicated 16–20 A circuitThree-phase connection and a cooling circuit
Practical useHome or hosting, easier to resellDatacentre machine

The Hydro model needs a three-phase connection and a cooling circuit, so you can hardly run it at home and it belongs in a datacentre. The air-cooled S21 XP runs on single-phase 230 V, but it needs a dedicated 16 to 20 A circuit (3,645 W is about 15.8 A), and it is easier to resell on the secondary market. In winter you can also use it as a heater: at €0.20/kWh the mined Bitcoin covers about 49% of the electricity bill (€8.66 of €17.50 a day), so the heat costs roughly half of what direct electric heating does, though a heat pump is cheaper still.

Where the S21 XP stands against the new generation

The S21 XP is one generation behind. The most efficient machines today sit between 9.5 and 11 J/TH. The table compares them at the same inputs as above, with hosting at €0.09/kWh:

MachineHashratePowerEfficiencyRevenue per dayResult per monthBreak-even
Antminer S21 XP270 TH/s3,645 W13.5 J/TH€8.66+€24€0.099/kWh
Antminer S21 XP+ Hydro500 TH/s5,500 W11 J/TH€16.03+€126€0.121/kWh
Antminer S23318 TH/s3,498 W11 J/TH€10.20+€80€0.121/kWh
Antminer S23 Hydro 3U1,160 TH/s11,020 W9.5 J/TH€37.20+€407€0.141/kWh

The S21 XP still has Bitmain service and spare parts, it is among the most liquid machines on the secondary market, and as an air-cooled model it needs no hydro infrastructure. If you want to see how the profitability of the whole S21 series changes with difficulty over time, read our article on how much Bitcoin an Antminer S21 mines per year.

Who the Antminer S21 XP makes sense for, and who should skip it

It makes sense if you:

  • expect Bitcoin to rise over the next years and want exposure to the price cycle,
  • have electricity below €0.10/kWh or go with hosting,
  • want a machine from an established manufacturer that resells easily and needs no hydro infrastructure.

Consider something else if you:

  • need the machine to earn from the first month, since other algorithms earn more today,
  • would mine at home on a standard tariff,
  • have hydro infrastructure available, in which case the Hydro version or a new-generation machine is the better choice.

Buyers who want to end up with Bitcoin often overlook that they do not have to mine Bitcoin itself. Through NiceHash you can mine a more profitable algorithm and receive the payout directly in BTC. You can compare the profitability of all machines on the profitability comparison page.

Frequently asked questions

Profitability

How much does the Antminer S21 XP earn in 2026?
At the 26 October 2026 difficulty of 140.578 T and a BTC price of €71,705 it mines about €8.66 a day before pool fees. At €0.09/kWh hosting that is about +€24 a month, at €0.07/kWh +€77 and at a household rate of €0.20/kWh −€269.
What is the break-even point of the S21 XP?
About €0.099/kWh at today's inputs. Below that electricity price the machine earns; above it, it loses money. The Hydro version breaks even at €0.111/kWh.
At what Bitcoin price does the S21 XP start to earn?
On hosting at €0.09/kWh it already earns at today's price and stays above zero until BTC falls about 9% to roughly €65,200. At €0.20/kWh the price would have to roughly double. Because difficulty usually rises with the price, these are upper estimates.

Choice and comparison

S21 XP or S21 XP Hydro?
The Hydro version is more efficient (12 J/TH) and on hosting at €0.09/kWh earns about +€88 a month against +€24. It needs a three-phase connection and a cooling circuit. The air-cooled S21 XP runs on single-phase 230 V with a dedicated 16 to 20 A circuit and is easier to resell.
Can you run the S21 XP at home?
Technically yes: it runs on single-phase 230 V, but it needs a dedicated 16 to 20 A circuit. At a household rate of €0.20/kWh it loses about €269 a month, and it is loud at about 75 dB (reported). At home it makes more sense in winter, when its heat replaces electric heating.

Thinking about an Antminer S21 XP?

We do not stock the S21 XP, but you can see the closest machines we do have: the Antminer S21 XP+ Hydro (500 TH/s) and the newer Antminer S23 (318 TH/s), or browse all Bitcoin miners. Electricity decides the result, so look at our hosting from €0.09/kWh (Norway / Finland), and we will calculate with you whether a machine pays off at your numbers.

Figures are indicative and valid as of 26 October 2026: network difficulty 140.578 T (adjustment of 16 October 2026, mempool.space), block subsidy 3.125 BTC, 1 BTC = €71,705 / $80,270 (CoinGecko), specifications from asicminervalue and Bitmain. Results are calculated from unrounded values on the subsidy only and do not include transaction fees, pool fees or machine depreciation. The BTC price sensitivity assumes unchanged difficulty, which in practice usually rises with the price. A month is 365/12 days. Historical resale stories are reported, not Miner-House data. Mining is not guaranteed to be profitable and this text is not investment advice.

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