Paper: https://doi.org/10.1016/j.eneco.2026.109454
Short answer, on real 2024 Irish market data: yes, but only with efficient hardware and a sensible dispatch strategy.
What we modelled: a 100 MW Irish wind farm, a miner from 0 to 90 MW, 2024 I-SEM hourly prices, two hardware generations (the old Antminer S9 and the more efficient S21 Hydro), six operating strategies, and a full six-year appraisal.
