Bitcoin

Dubai

Bitcoin mining is on a remarkable upswing, with <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/">hashprice</a> metrics reflecting an optimistic outlook for miners. October brought a 27% appreciation in Bitcoin's value, culminating at a commanding $34,500 by month's end. This bullish trend underpins a significant rise in <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/">hashprice</a>, which ascended from $60 to approximately $71 per PH/day, despite two positive difficulty adjustments, according to <a href="https://hashrateindex.com/blog/october-2023-as-number-go-up-asic-miner-prices-go-up-too/3">hashrateindex</a>. 
The flourishing hashprice has sparked a revival in ASIC demand, keeping the <a href="https://ultramining.com/news/en/luxor-innovates-with-extended-contracts-and-daily-settlements-for-enhanced-bitcoin-mining/">Luxor</a> ASIC Trading Desk bustling throughout the month. A staggering 3,826 ASICs were traded in October alone, marking a 128.7% increase from September. The used S19 series notably dominated sales, with the S19 (95 TH/s) leading and the S19j Pros following closely. 
<img src="https://lh7-us.googleusercontent.com/NCVoEyyhXW4a8PfbYK3qLBcdDjz3vi58XIB7IZhHozHW1CbQyJmIwaYAyBytk37J5Wa1hZzm8VDmpRIsYV3O5g_InPAVu1zj1raDrNQCjIm2OEUjtIo6Ry6rX1bCD_DeUfJhq-usUNcz3_twYHGv7SA" width="602" height="481"><a href="https://ultramining.com/news/en/luxor-innovates-with-extended-contracts-and-daily-settlements-for-enhanced-bitcoin-mining/">Luxor</a> RFQ October 2023 volume and average price per ASIC miner&nbsp; 
The demand for ASIC miners has catalyzed a recovery in prices from previous lows, prompting questions about the market reaching a bottom. The S19 series, especially the used S19 (95 TH/s) and S19j Pros (100 TH/s), saw an over 17% price increase, signaling a potential market stabilization. 
Buy-side demand trends in the ASIC market also shed light on strategic shifts. The S19k Pro model is experiencing soaring demand due to its cost-effectiveness and performance comparable to the S19 XP. With major vendors responding to this trend by adjusting prices, the S19k Pro is becoming a prime choice for miners. 
<a href="https://ultramining.com/en/manufacturers/microbt/">MicroBT</a> and <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a>, two industry giants, are competing with their latest releases—the <a href="https://ultramining.com/en/manufacturers/microbt/">Whatsminer</a> M60 series and the Antminer T21. MicroBT's announcement of the M60 series at the Blockchain Life 2023 conference in Dubai and the availability of these miners on the spot market give them an edge over Bitmain's S21, which will ship in Q1-2024. 
Bitmain's response with the Antminer T21, boasting an efficiency of 19 J/TH, at the same conference indicates the intense rivalry and the dynamic nature of the ASIC market. 
In conclusion, October 2023 saw Luxor's ASIC Trading Desk clear an impressive volume of ASICs, with prices for certain models increasing significantly. The sustained demand for the S19k Pro and the competition between MicroBT's <a href="https://ultramining.com/en/manufacturers/microbt/">Whatsminer</a> M60 series and Bitmain's Antminer T21 underscore the rapid evolution and excitement within the Bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a>.&nbsp;

Exploring the Surge in Bitcoin Mining: ASIC Prices and Hashrate Trends

Ultramining_Eng

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