Prices for Bitcoin ASIC miners are at historic lows.

As Bitcoin mining equipment keeps flooding the market, the price of ASIC miners per terahash has decreased by more than 80% from its peak in 2021.

In what is being seen as another sign of a deepening crypto bear market, Bitcoin ASIC miners, or devices optimized for the sole purpose of mining Bitcoin, are currently selling at bottom-of-the-barrel prices last seen in 2020 and 2021.

The most effective ASIC miners, those that produce at least one terahash for every 38 joules of energy, have seen their prices drop 86.82% from a peak of $119.25 per terahash on May 7, 2021 down to $15.71 as of December 25.

The Antminer S19 from Bitmain and the Whatsminer M30s from MicroBTC are examples of miners in this category.

The same is true for mid-range machines, whose average price has dropped significantly 89.36% from its peak price of $96.24 on May 7, 2021, to now average $10.23.

The least effective machines, on the other hand, are now priced at $4.72, a 91% decrease from its peak price of $52.85. These machines require more than 68 Joules per TH. It was last priced similarly on or about November 5, 2020.

Large Bitcoin mining operations, which have struggled to stay profitable throughout the bear market, are largely to blame for the price decline. To stay afloat, many of these operations have either filed for Chapter 11 bankruptcy, taken on debt, or sold their BTC holdings and equipment.

Core Scientific, Marathon Digital, Riot Blockchain, Bitfarms, and Argo Blockchain are a few of the companies that have completed that.

However, some eager buyers have responded to the sharp price decline. Many Russian-based mining operations, like BitRiver, are among them. They can benefit from the relatively cheap electricity prices in the country, where modern hardware can mine one Bitcoin (BTC) for about $0.07 per kilowatt-hour.

While it's difficult to predict which price direction ASIC miners will take next, Nico Smid of Digital Mining Solutions noted in a tweet on December 21 that ASIC miner prices bottomed at Bitcoin's most recent halving cycle on May 11, 2020 and quickly moved up afterward — something that could play out in Bitcoin's next halving cycle, which is anticipated to occur on April 20, 2024.

Comments

Accumulate Wealth: Strategies for Effective Financial Resource Management

In today's ever-changing business landscape, the skillful management of financial resources stands as a paramount concern for organizations striving to prosper and achieve success. Financial resources serve as the lifeblood of any enterprise, empowering them to invest, operate, and grow. This comprehensive article delves deep into the concept of Financial Resources, shedding light on what they are and offering insights into effective management strategies. While the keyword " where to accumulate wealth " is relevant to financial planning, this article primarily focuses on the broader concept of financial resources and their management within the business context. Understanding Financial Resources Financial resources encompass the funds and assets that an organization employs to finance its operations, projects, and investments. These resources exist in various forms, including cash, accounts receivable, investments, and more. Managing these resources effectively can ma

What are crypto IDOs?

What's IDO? Initial DEX Offering, or IDO, is a way for projects to sell their crypto tokens to the community using a decentralized exchange. This is called an IDEO (DEX). A typical IDO lets investors lock their funds into a smart contract before issuing a project's native token. At the token generation event, investors receive new tokens in exchange for frozen funds. IDOs offer projects a simple, low-cost way to distribute tokens and collect funds while providing investors with more security than an ICO (ICO). IDO investors need a cryptocurrency wallet like MetaMask. To join IDO and pay transaction fees, add cryptocurrency to your wallet. You should avoid IDOs. Always do independent research. This requires examining a project's IDO mechanisms, token economics, vesting durations, and founding team, which can vary by platform and project. Also, IDO mechanisms can be found in different projects. Before investing in DEX ventures, make sure you can trust them. IDO function: IDOs

Stop the fall, the dollar bulls have returned, according to our weekly forecast for the EUR/USD pair.

The EUR/USD pair managed to keep up its upward momentum throughout the first part of the week, but it was unable to achieve parity and finished the week at about 0.9750, which resulted in a modest loss for the week as a whole. At the beginning of the fourth quarter, optimism was at an all-time high, with Wall Street reporting big profits and government bonds extending their gains from the previous week. The increased appetite for risk is providing support for the EUR/USD currency pair. Participants on the market were of the opinion that an increase in the risk of a global recession would force central banks to slow the rate of quantitative tightening sooner rather than later. This type of speculation, together with the desire for high-yielding assets, was fueled by the Reserve Bank of Australia's decision to raise the cash rate by only 25 basis points, which was less than was anticipated. However, the positive energy didn't stick around for very long. On Wednesday, the European

Search This Blog