It should be clear by now that the crypto industry is facing a bear market. But falling prices of cryptocurrencies do not only have drawbacks. One advantage is that mining hardware prices are getting lower. Many manufacturers now have to charge longer prices, and so is the popular ASIC manufacturer Bitmain.
Bitmain offers a discount on bitcoin miner
China’s Bitmain is one of the most popular manufacturers of ASIC hardware, the angular machines needed to Proof of Workto keep blockchains such as Bitcoin (BTC) and Bitcoin Cash (BCH) running.
on 🗣 #BITMAIN is offering an #ANTMINER S19 Pro special discount for only $19/T! For bulk orders, please contact BITMAIN sales representative directly. Customers who have already purchased S19 Pro will be eligible for coupons. 🔗: https://t.co/a9TlaCNUph pic.twitter.com/CDxKBpxYUN
the company announces that not just any device has become cheaper, but the Antminer S19 Pro. This is the second fastest machine the company currently offers. Only the water-cooled S19 Hydro is both available and faster. dThe recently announced S19 XP Hydro will not be launched until next year.
🗣 #BITMAIN is offering an #ANTMINER S19 Pro special discount for only $19/T! For bulk orders, please contact BITMAIN sales representative directly. Customers who have already purchased S19 Pro will be eligible for coupons. 🔗: https://t.co/a9TlaCNUph pic.twitter.com/CDxKBpxYUN— BITMAIN (@BITMAINtech) September 20, 2022
It is now available on Bitmain’s site for $1,900 per device. It is good for 100 terahash per second, so financially it has an efficiency of $19 per terahash. A bargain, assuming you’re still paying nearly $5,000 from other sellers.
Bitmain also sells the Antminer S19 non-Pro itself, but for a price of $3,230. The Pro version is therefore even cheaper than the slower regular version. Also, large customers can contact the Chinese company, presumably for bulk discounts. In addition, you qualify for an extra discount if you have already ordered the device.
BTC mining ASICs more important than you think
The prices are much more important than what you might think at first glance. Not only do miners have to deduct the cost of the hardware from their profits and sell BTC to pay for the hardware, the ASIC machines are also used as collateral for loans. If the hardware becomes cheaper, miners will therefore spend less on investments, but in the meantime the loans of some parties are at risk.