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Bitcoin asic miners — machines optimized for the sole purpose of bitcoin mining — are currently for sale at the lowest price barrel not seen since 2020 and 2021, This is considered another sign of a deep crypto bear market.
According to the latest data from Hashrate Index, the most efficient ASIC miners, those generating at least one terahash per 38 joules of energy, have seen their prices fall 86.82% from May. 7, peaking at $119.25 per terahash in 2021 at $15.71 beginning in December. 25.
Minors in this class include Bitmain Antminer S19 and MicroBTC Whatsminer M30.
This is also true for intermediate-level machines, with prices averaging $10.23 after a massive decline of 89.36% compared to its peak price of $96.24 in May. 7, 2021.
However, the less efficient machines, those which require more than 68 joules per th, are now priced at $4.72, a 91% decrease compared to its peak price of $52.85. The final time the price was close was in November. 5, 2020.
The fall in prices has largely been attributed to large Bitcoin mining companies that have struggled to remain profitable throughout the bear market, with many either filing for Chapter 11 bankruptcy, taking on debt, or selling their BTC holdings and equipment in order to stay afloat.
Of the companies to have made which include scientific core, digital marathon, riot blockchain, bitfarms and argo blockchain.
Related: Bitcoin miner outflow ratio hits 6-month high in new threat to BTC price
However, the sharp decline in prices was welcomed by some enthusiastic buyers. Among those include many Russian-based mining facilities like BitRiver who are able to capitalize on relatively low electricity costs, with some up-to-date hardware capable of mining one Bitcoin (BTC) at about $0.07 per kilowatt-hour in the energy-rich nation.
While it’s hard to predict what price direction ASIC miners will head toward next, Nico Smid of Digital Mining Solutions pointed out in a Dec. 21 tweet that ASIC miner prices bottomed at Bitcoin’s last halving cycle in May. 11, 2020 and moved up aggressively shortly after — something which could play out in Bitcoin’s next halving cycle which is expected to take place on Apr. 20, 2024.
