Bitcoin ASIC miners’ costs have dropped by greater than 80% since late 2021. Whereas asset costs decline, the mining scene is flooded by rigs.
Bitcoin ASIC mining rigs value
The worth of bitcoin ASIC mining rigs presently hovers at $15.71, down from the $119.25 it registered final yr.
In response to ASIC index knowledge, these value ranges had been final seen in 2020. The worth drop might be attributed to the continued crypto bear market making the profitability of bitcoin mining a lot decrease. Consequently, mining corporations are reselling their ASIC mining rigs, flooding the market.
The worth has met miners like MicroBTC Whatsminer M30s and Antminer S19 at a loss, as ASIC’s terahash (TH) value has fallen by 89.4% since 2021. It now prices a mean of $10.2 to mine 1 TH per 38 joules of vitality. The least environment friendly machines that require as much as 68 joules have an excellent decrease TH value, valued at $4.7. It dropped from $52.85, recording a 91% decline over a yr.
Lengthy winter for bitcoin miners
Giant mining corporations which have struggled to stay afloat throughout this crypto winter are the first reason behind the drop within the ASIC value index. Most of them attempt to stay related within the bear market run however find yourself reducing their losses and submitting for chapter or promoting their bitcoin holdings and different tools. Argo Blockchain, Marathon Digital, and Bitfarm are amongst such corporations.
ASIC’s future remains to be in jeopardy, and it’s tough to foretell how or when its value will surge. Nevertheless, Nico Smid, a senior enterprise marketing consultant and member of Digital Mining Options, explains that its value would possibly rise after the following halving occasion. It’s an identical development that ASIC’s TH value adopted in Could 2020 over the past bitcoin halving. The upsurge would possibly occur through the subsequent one set for April 2024.