Bitcoin Mining Equipment Prices Collapsed To Yearly Lows

ASIC miners for bitcoin mining are selling at their lowest prices since the May 2021 peaks.

The price of devices from flagship lines like the Antminer S19 or Whatsminer M30 with efficiency of more than 38 J/TH fell to $15.71 per TH. Last May the figure reached $119.25.

Less efficient class of equipment (38-68 J/TH) during the corresponding period fell in price from $96.24 to $10.23 per TH.

Even for outdated devices like the Antminer S9 (>68 J/TH) a year and a half ago, customers were paying almost $51 per TH. Now it's only $4.7.

The graph above shows an obvious correlation between the price of mining equipment and the bitcoin exchange rate. However, the correlation has broken down in recent months.

During the bull market of 2021, companies have been lending heavily to buy equipment, in many cases secured against it. Bloomberg estimated the amount of these endangered debts at $4 billion.

NYDIG, Celsius Network, BlockFi, Galaxy Digital and DCG's Foundry were the largest lenders, according to the agency. Over the course of the year, some miners began returning tens of thousands of rigs, unable to service the debt. According to experts, this placed pressure on equipment prices.

Rate the article

Previous postThe Сomplete Overview Of A Cryptomus Payment Gateway
Next postNFT-gifts On The TON Blockchain Will Be Available In Telegram

If you have a question, leave your contact, and we will get back to you

Simplify Your Crypto Journey

Want to store, send, accept, stake, or trade cryptocurrencies? With Cryptomus it's all possible — sign up and manage your cryptocurrency funds with our handy tools.

comments

0

Cookies and fingerprint settings

We use cookies and browser fingerprint to personalize content and advertising, provide social media features, and analyze our traffic. We also share information about your use of our website with our social media, advertising, and analytics partners, who may combine it with other information. By continuing to use the site, you consent to the use of cookies and browser fingerprint.

We use cookies and browser fingerprint to personalize content and advertising, provide social media features, and analyze our traffic. We also share information about your use of our website with our social media, advertising, and analytics partners, who may combine it with other information. By continuing to use the site, you consent to the use of cookies and browser fingerprint.