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Tuesday, February 7, 2023

ASIC Miners Going Down The Barrel

Bitcoin ASIC miner prices are hovering at lows not seen in years, not just for the current generation of miners but for older models as well. The reason for this is simple: the cryptocurrency market is bearish, and production costs have dropped significantly over time.

The average price of a Bitcoin ASIC miner has fallen to below $1,000 USD per unit on online retailers such as eBay and AliExpress. A quick search reveals that ASIC mining hardware ranging from Antminer S3’s (first generation) to Antminer T9+’s (third generation) can be found for under $1k USD each on these e-commerce sites.

ASIC Miners Staring At Lows

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However, if you’re looking for an Antminer T9+, it’ll cost more than $1k because it’s one of the most popular mining rigs out there right now and there aren’t many available at any given time due to their popularity among crypto miners who want to maximize profitability by buying multiple machines at once rather than waiting several months just so they can get one cheaply when supply increases again later down this road.”

The last time prices were this low was back in October 2017 — since then, they have been on a steady decline. This phenomenon has been driven by increasing uncertainty around the halving, and subsequent drop in hash rate seen across the network.

It has also been accompanied by a growing disparity between the prices of entry-level and high-performance machines, with producers seemingly left scrambling to find ways to shift stock. Analysts from crypto mining monitoring firm F2Pool reported that just two examples of Bitcoin’s most popular Antminer S17+ were sold for over $6,700 apiece during July — significantly lower than the $11,000 price tag attached when the device first became available in April.

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The figures are perhaps even more stark when compared to prices paid for the model’s predecessor, the S9+, which were at least double. In March 2017, its release month, one unit cost $2,730; by January 2018 this had fallen to $1,600.”

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