Bitcoin ASIC miners price hits lowest level in years

Bitcoin ASIC miners prices have dropped by more than 80% since the end of 2021. While property prices have plummeted, the mining scene is filled with rigs.

bitcoin asic mining rigs price

bitcoin asic mining rigs price currently hovering at $15.71, down from the $119.25 registered last year.

These price levels were last seen in 2020, according to ASIC Index data. The drop in prices can be attributed to the ongoing crypto bear market, which is building profitability. Bitcoin Very little mining. As a result, mining companies are reselling their ASIC mining rigs, flooding the market.

Price has hurt miners like the MicroBTC Whatsminer M30s and Antminer S19, as the ASIC’s terahash (TH) price has fallen 89.4% since 2021. It now costs an average of $10.2 to mine 1 TH per 38 Joules of energy. The TH price for the least efficient machines requiring up to 68 joules is even lower, at $4.7. It fell to $52.85, registering a decline of 91% in one year.

Long winter for bitcoin miners

Large mining companies that have been struggling to stay afloat during this crypto winter are the primary reason for the decline in the ASIC price index. Most of them try to stay relevant in the bear run, but end up reducing their losses and filing for bankruptcy or selling off their bitcoin holdings and other instruments. ergo blockchainMarathon Digital, and bitfarm are among such companies.

Future of ASIC is still in trouble, and it is difficult to predict how and when its price will rise. However, Niko Smid, a senior business consultant and member of Digital Mining Solutions, points out that the price could increase after next year. event of halving, This is a similar trend that ASIC’s TH price had during the last bitcoin halving in May 2020. The surge could happen during the next one set in April 2024.

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