Definition. This chart estimates the maximum number of ASIC mining rigs required to generate the observed Bitcoin network hashrate, assuming the entire fleet consists of a single reference device model. The following reference ASIC rig models are considered:

• ⚪ Antminer S9 (13.5 TH/s, 1,323 W, ~98 J/TH, Jun-2016)
• 🔴 Antminer S17 (56 TH/s, 2,520 W, 45 J/TH, Apr-2019)
• 🟡 Antminer S19 Pro (110 TH/s, 3,250 W, 29.5 J/TH, May-2020)
• 🟢 Antminer S19 XP Hyd. (257 TH/s, 5,346 W, 20.8 J/TH, Oct-2022)
• 🔵 Antminer S21 XP (270 TH/s, 3,645 W, 13.5 J/TH, Dec-2024)
• ⚫ Antminer S23 Hyd. (580 TH/s, 5,510 W, 9.5 J/TH, Jan-2026)

Technical. Each trace divides network hashrate by the rig model's rated hashrate, rounded up:

• Device Count = round_up(Network Hash Rate / Rig Hash Rate)

Note: Traces per rig commence on the approximate date of availability according to the manufacturer.

Interpretation. The single-model assumption is a gross simplification of reality — the real fleet is a mix of device generations — but it allows for an assessment of relative hardware efficiency gains over time: the same network hashrate requires roughly 43x fewer S23 Hyd. units than S9 units. Each trace is best read as an upper bound on device count if the fleet consisted solely of that model, and the spread between traces illustrates how each hardware generation compresses the physical and logistical footprint (units to house, power, and maintain) of the mining industry.

Notes. Built from Hash Rate. Companion fleet models: ASIC Fleet Global Power Consumption, ASIC Fleet Revenue per Day, ASIC Fleet Break-Even-Cost, and per-rig profitability in Antminer S9, S19 Pro and S19 XP Hyd. Reference models are Bitmain Antminer generation representatives (using the plain S17 56T at 2,520 W, not the S17 Pro); machines from other vendors such as MicroBT and Canaan are not represented. Availability months are the manufacturer's announced shipping windows.