Bitcoin

In the wake of the recent <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> event and ongoing economic shifts within the Bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, older ASIC (Application-Specific Integrated Circuit) mining rigs are now available at significantly reduced prices. <a href="https://ultramining.com/news/en/luxor-innovates-with-extended-contracts-and-daily-settlements-for-enhanced-bitcoin-mining/" rel="noopener noreferrer nofollow">Luxor</a> Technologies reported that models such as the <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a> Antminer S19j Pro and <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">Microbt</a> M30S+ have seen price reductions of 28% and 35%, respectively, since September 2023, according to <a href="https://news.bitcoin.com/amid-shifts-in-bitcoin-mining-economics-steep-discounts-emerge-for-older-asic-rigs/" rel="noopener noreferrer nofollow">Bitcoin.com</a>.
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This downturn in prices reflects broader changes in the mining landscape, notably the decreased profitability of older mining rigs due to a lower <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/" rel="noopener noreferrer nofollow">hashprice</a>, which currently stands at about $0.056 per terahash per second (TH/s) per day. This hashprice essentially measures the daily earnings potential per terahash of computing power deployed on the Bitcoin network.
The trend is not isolated to Bitcoin; other proof-of-work (PoW) crypto assets, utilizing algorithms like Kheavyhash, Blake3, and Ethash, are now proving more profitable than those based on the SHA256 algorithm used by Bitcoin. This indicates a shifting preference within the mining community towards more lucrative or less competitive mining opportunities.
Meanwhile, the latest models from manufacturers like Bitmain and Microbt continue to dominate the market in terms of profitability. Devices such as Bitmain’s S21 series and Microbt’s M63S, M66S, and M60S models are among the most profitable, demonstrating how advancements in technology play a crucial role in staying competitive in the mining industry.
These market dynamics suggest a continued evolution in Bitcoin mining, where newer, more efficient technology is critical for maintaining profitability. As the industry adjusts to these economic realities, the role of older equipment becomes increasingly marginalized, making them accessible at lower prices for those willing to invest in less efficient technology with potentially higher operational costs.

Economic Shifts in Bitcoin Mining Lead to Deep Discounts on Older ASIC Models

Ultramining_Eng

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