Due to high computing power and falling cryptocurrency prices, Bitmain has significantly reduced the price of its mining machines.
PANews reported on December 27th that, according to TheMinerMag, Bitmain is accelerating price reductions for both traditional and next-generation Bitcoin mining hardware. In late December, Bitmain launched bundled deals and factory discounts, bringing the prices of several S19 and S21 series miners down to levels that would have been considered low-price promotions earlier in the cycle. As of December 22nd, Bitmain was offering the S19e XP Hydro and 3U S19 XP Hydro miners at as low as $3/TH/s, and the S19 XP+ Hydro miner at as low as $4/TH/s.
Analysis indicates that with network hashrate remaining near all-time highs while Bitcoin prices have fallen, hashrate prices are hovering near multi-year lows, increasing pressure on the mining industry. This environment is squeezing miners' profit margins, reducing demand for new equipment, especially inefficient models, and intensifying competition between ASIC miner manufacturers and secondhand market sellers.
You May Also Like
Bitmain Slashes ASIC Prices Amid Mining Industry Downturn
Polygon Tops RWA Rankings With $1.1B in Tokenized Assets
