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An immersion-cooled Bitcoin ASIC is still a multi-kilowatt appliance. Current published examples draw about 3.6–5.6 kW for the miner alone: a Bitmain S21 Immersion is rated at 3,824 W in Normal Energy Mode (NEM) and 5,569 W in High Energy Mode (HEM). Running continuously, those settings consume about 91.8 or 133.7 kWh per day, respectively, before the tank, pumps, heat exchanger, CDU, ventilation and other facility loads are added.
Immersion changes how the heat is removed; it does not eliminate the hashboards’ electricity demand. Your all-in bill depends on the ASIC model, firmware mode, uptime, electricity tariff and the cooling system’s allocated load.
What the electricity figure actually includes
A miner’s published wattage is normally its electrical input at the wall. It covers the power supplies, control board, hashboards and whatever cooling hardware is built into that appliance. In an immersion installation, the ASIC’s fans are usually removed or disabled, but the heat still has to leave the dielectric fluid through pumps, a heat exchanger or cooling-distribution unit (CDU), and often a dry cooler or another facility loop.
For that reason, two numbers should be kept separate:
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- ASIC draw: the miner’s own rating in watts or kilowatts.
- System draw: ASIC draw plus the allocated tank, pump, controls, heat-exchanger/CDU, dry-cooler, networking and building loads.
The daily and annual figures below assume 24 hours of operation every day. They are energy calculations, not guarantees of what a particular installation will measure. Tuning, temperature, power-supply losses, curtailment and downtime can all change the result.
Published power ratings for immersion ASICs
| Miner and source | Operating mode | Hashrate | Miner power | Efficiency | Published operating conditions |
|---|---|---|---|---|---|
| Bitmain S21 Immersion | Normal Energy Mode | 239 TH/s | 3,824 W (3.824 kW) | 16.0 J/TH | 30–55 °C inlet-oil temperature; 1 m³/h coolant flow |
| Bitmain S21 Immersion | High Energy Mode | 301 TH/s | 5,569 W (5.569 kW) | 18.5 J/TH | 30–55 °C inlet-oil temperature; 1 m³/h coolant flow |
| Bitmain S21 XP Immersion listing | Mode not stated in the listing | 300 TH/s | 4,050 W (4.050 kW) | 13.5 J/TH | Conditions not stated in the cited listing |
| Canaan Avalon A1366I-122T | Mode not stated | Not stated in the cited product-page summary | 3,570 W (3.570 kW) | 29.2 J/TH | Conditions not stated in the cited product-page summary |
Bitmain’s official S21 Immersion specifications provide the clearest two-mode comparison. The S21 XP Immersion figures come from a separate Bitmain shop listing, so they should not be merged with the S21 Immersion NEM/HEM table. Canaan publishes the Avalon figure on its official product page.
S21 Immersion in Normal Energy Mode
At 3,824 W, the S21 Immersion is a 3.824-kW continuous load. Its rated 239 TH/s and 16.0 J/TH describe the trade-off: less hashrate and lower power than HEM, with better energy efficiency than the high-power setting. The 30–55 °C inlet-oil range and 1 m³/h coolant-flow specification are part of the conditions for which the rating is stated; operating outside them can affect stability and achievable performance.
S21 Immersion in High Energy Mode
HEM raises the rating to 5,569 W and 301 TH/s. That is 1,745 W more than NEM, while the specified efficiency changes from 16.0 to 18.5 J/TH. A higher mode therefore produces more hashes but is not automatically the cheapest way to produce them: compare the extra coins or revenue with the extra energy at your tariff and with the cooling system’s capacity.
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S21 XP Immersion and Avalon A1366I-122T
The S21 XP Immersion listing gives 4,050 W at 300 TH/s and 13.5 J/TH. Because it is a separate model and listing, treat those values as its own specification rather than an alternative S21 Immersion operating mode. The Avalon A1366I-122T page gives 3,570 W and 29.2 J/TH. A lower wattage number alone does not prove lower cost per terahash; the hashrate and joules-per-terahash must be considered together.
How many kilowatt-hours does that become?
Use this conversion for a continuously running miner:
energy (kWh) = power (kW) × hours running
For a full day, multiply by 24. For a non-leap year of continuous operation, multiply by 8,760 hours. Applying that arithmetic to the two S21 Immersion modes gives:
| Setting | Power | Per hour | 24-hour day | 30-day month | 365-day year |
|---|---|---|---|---|---|
| NEM | 3.824 kW | 3.824 kWh | 91.8 kWh | 2,753.3 kWh | 33,498 kWh |
| HEM | 5.569 kW | 5.569 kWh | 133.7 kWh | 4,009.7 kWh | 48,785 kWh |
The monthly column is a 30-day planning value, not a calendar-year average. The annual values assume the miner never powers down, throttles or curtails. If uptime is 95%, multiply each energy figure by 0.95; if a site runs only 12 hours per day, use 12 rather than 24 in the formula.
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Does immersion cooling reduce the miner’s power draw?
Not by itself. Hashboards still consume the electricity required to perform the SHA-256 calculations, and that load dominates a modern ASIC. Removing air fans can eliminate fan electricity and avoids the fans’ acoustic and airflow constraints, but immersion replaces that airflow path with pumps and heat-transfer equipment.
Immersion can make a different operating point practical. Stable fluid temperatures may allow a manufacturer or operator to tune clocks and voltage, and Shell’s technical publication notes that overclocking can increase computational performance, power consumption and heat generation. An overclocked miner can therefore use more electricity even though its cooling is more capable. Conversely, underclocking can reduce watts and hashrate together. Treat the mode or tuning profile, not the word “immersion,” as the power setting.
How much extra power does the tank and CDU consume?
The overhead is installation-specific; there is no universal percentage that can be added to every ASIC. MIDAS lists 2–3 kW of power consumption for its ASICE 2.0 tank system, with configurations for up to 32 S19 miners or 20 M36/M56 miners and up to 150 kW of heat-dissipation capacity. That is the tank system’s rating, not a claim that every miner in every deployment receives the same overhead.
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If a tank is fully populated, a simple planning allocation is:
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| MIDAS configuration | System power | Supported miner count | Allocated tank power per miner |
|---|---|---|---|
| ASICE 2.0 for S19 units | 2–3 kW | Up to 32 | About 62.5–93.8 W each |
| ASICE 2.0 for M36/M56 units | 2–3 kW | Up to 20 | About 100–150 W each |
Those divisions are useful only when the tank is loaded as specified. A partly filled tank can assign substantially more overhead to each operating miner, while ambient temperature, pump speed and heat-exchanger conditions can change actual consumption. The figures and capacities are from the MIDAS ASICE 2.0 specification page.
At larger scale, Green Revolution Cooling’s HashRaQ MAX white paper says a CDU can cool up to 288 kW and support 48 Bitmain S19 miners. It also states that the design can support overclocking of over 6 kW per miner and describes lower miner and cooling power use from removing fans. “Cools up to 288 kW per CDU utilizing a dry cooler” and “Supports overclocking of over 6 kW/miner” are manufacturer statements, not a measured overhead percentage for every site. See the GRC white paper for that enterprise sizing example.
How to estimate your installation’s all-in load
- Record the exact ASIC and mode. Use the nameplate or controller setting, such as S21 Immersion NEM or HEM. Do not substitute a similarly named model.
- Convert the rating to kilowatts. Divide watts by 1,000. For example, 5,569 W becomes 5.569 kW.
- Apply the planned runtime. Multiply by hours per day and days in the billing period. Include expected downtime or curtailment rather than assuming 100% uptime.
- Add cooling equipment. Use a measured pump/CDU/tank value when available. If only a system rating is known, divide it among the miners it actually serves and label the result as an allocation.
- Add facility loads. Include dry coolers, secondary pumps, controls, networking, lighting and power-distribution losses that are on your meter.
- Multiply by your tariff. Apply the energy component of your electricity rate to the resulting kWh, then add demand charges, taxes or fixed fees according to your utility bill.
A plug-in wattmeter at the miner, a submeter on the tank and the site’s main meter answer different questions. Comparing all three helps separate ASIC draw from cooling and distribution losses.
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Joules per terahash (J/TH) expresses energy used to produce one terahash of hashing capacity. It is calculated as watts divided by TH/s, so a lower number is more efficient at the stated operating point. The S21 Immersion’s 16.0 J/TH in NEM and 18.5 J/TH in HEM illustrate why a high-hashrate mode can consume more electricity per unit of work. The S21 XP listing’s 13.5 J/TH is a separate model specification, while the Avalon listing reports 29.2 J/TH.
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Make comparisons only when the measurements describe comparable conditions. Keep mode, firmware tuning, inlet-fluid temperature and coolant flow consistent. A miner with a lower wall-power rating may produce far fewer terahashes; a miner with better J/TH may still cost more to operate if its purchase, hosting or cooling requirements differ.
Temperature, flow and tuning checks
For the S21 Immersion, Bitmain specifies 30–55 °C inlet-oil temperature and 1 m³/h coolant flow. Check the inlet sensor, return temperature and flow meter rather than relying on room temperature. Rising return temperature, alarms or automatic frequency reduction can indicate insufficient flow, fouled heat-transfer surfaces, an undersized dry cooler or an ambient condition beyond the design point.
When changing voltage, clock or energy mode, change one variable at a time and watch wall power, hashrate, rejected shares and fluid temperatures. A setting that appears efficient at the ASIC can overload the tank or CDU once several units share the same loop. Keep the cooling system within its rated heat-dissipation capacity and preserve the manufacturer’s electrical and fluid-safety requirements.
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- Using the model’s peak figure as its 24-hour average: a controller may throttle, sleep or switch modes.
- Adding a generic “10% cooling” factor: published systems vary, and the available specifications do not establish a universal percentage.
- Counting tank capacity as electrical consumption: a 150 kW heat-dissipation rating describes thermal capacity, not 150 kW of pump electricity.
- Comparing unlike modes: NEM and HEM have different hashrates, watts and J/TH.
- Ignoring partial loading: a 2–3 kW tank serving two miners assigns far more overhead per miner than the same tank serving its rated population.
- Reading only the ASIC submeter: it omits CDU, dry-cooler, distribution and building loads that may appear on the facility bill.
A practical planning example
Suppose one S21 Immersion is scheduled in NEM for a full 30-day billing period. The ASIC portion is 3.824 kW × 720 hours, or 2,753.3 kWh. If it shares a fully loaded S19-oriented ASICE 2.0 tank, the simple allocation from the 2–3 kW system rating is about 62.5–93.8 W, adding roughly 45–67.5 kWh over 720 hours. The resulting estimate is therefore about 2,798–2,821 kWh before any separate dry-cooler, building or distribution loads. This is a planning allocation, not a measured result, and it changes if the tank population or operating conditions change.
For HEM, start with 5.569 kW and apply the same runtime and measured or allocated cooling load. The higher mode’s additional 1.745 kW is present every hour it runs, so the energy and cooling consequences accumulate quickly over a month.
What to put on a mining power worksheet
- ASIC model, firmware and energy mode.
- Rated and observed wall watts.
- Target hashrate and J/TH at that setting.
- Hours per day, expected uptime and billing-period length.
- Tank, pump, CDU, heat-exchanger and dry-cooler readings.
- Number of miners sharing each cooling loop.
- Inlet-fluid temperature and coolant flow.
- Utility energy rate, demand charge and taxes.
With those entries, the answer is no longer a generic “immersion miner” estimate: it is an auditable kWh forecast tied to a specific machine and cooling loop.
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