Bitcoin ASIC miner prices hovering at lows not seen in years

Bitcoin ASIC miners — machines optimized for the sole intent of mining Bitcoin — are presently selling astatine bottom-of-the-barrel prices not seen since 2020 and 2021, successful what is being viewed arsenic different motion of a deepened crypto carnivore market.

According to the latest information from Hashrate Index, the astir businesslike ASIC miners, those generating astatine slightest 1 terahash per 38 joules of energy, person seen their prices autumn 86.82% from May. 7, 2021 highest of $119.25 per terahash down to $15.71 arsenic of Dec. 25.

Miners successful these class see Bitmain’s Antminer S19 and MicroBTC’s Whatsminer M30s.

The aforesaid connection holds existent for the mid-tier machines, with prices present averaged retired astatine $10.23 aft falling a monolithic 89.36% from its highest terms of $96.24 connected May. 7, 2021.

However, the slightest businesslike machines, ones that necessitate much than 68 Joules per TH, are present priced astatine $4.72, a 91% driblet from its highest terms of $52.85. The past clip it was priced adjacent this was astir Nov. 5, 2020.

Bitcoin ASIC Miner Price Index for machines with varying levels of efficiency. Source: Hashrate Index.

The autumn successful prices has mostly been attributed to ample Bitcoin mining companies that person struggled to stay profitable passim the carnivore market, with galore either filing for Chapter 11 bankruptcy, taking connected debt, oregon selling their BTC holdings and instrumentality successful bid to enactment afloat.

Among the firms to person done that see Core Scientific, Marathon Digital, Riot Blockchain, Bitfarms and Argo Blockchain.

Related: Bitcoin miner outflow ratio hits 6-month precocious successful caller menace to BTC price

But the steep terms autumn has been met with immoderate keen buyers. Among those see galore Russian-based mining facilities similar BitRiver who are capable to capitalize connected comparatively debased energy costs, with  immoderate up-to-date hardware susceptible of mining 1 Bitcoin (BTC) astatine astir $0.07 per kilowatt-hour successful the energy-rich nation.

While it’s hard to foretell what terms absorption ASIC miners volition caput toward next, Nico Smid of Digital Mining Solutions pointed retired successful a Dec. 21 tweet that ASIC miner prices bottomed astatine Bitcoin’s past halving rhythm successful May. 11, 2020 and moved up aggressively soon aft — thing which could play retired successful Bitcoin’s adjacent halving rhythm which is expected to instrumentality spot connected Apr. 20, 2024.

Source: Twitter