ASIC miners priced up as Bitcoin rallies

The cost of cryptocurrency mining equipment rose by 15–20% in the first quarter of 2023, and in some cases by as much as 30%. Analysts attribute the dynamics to the rise in Bitcoin’s price, according to «Коммерсант».

According to their estimates, in Q4 2022 the average price of ASIC miners was $1300–1800, and by the beginning of Q2 2023 it had risen to $1500–2000.

Analysts note that flagship models with high energy efficiency, delivering the maximum return, remain popular: M30S+, M30S++, M50S+ from Whatsminer and S19, S19 Pro, S19 XP from Antminer.

In addition to the 79% rise in Bitcoin’s price since the start of the year, the final cost of equipment is also influenced by the dollar rate, the number of devices purchased and other factors, analysts said.

“Manufacturers and suppliers raise prices because equipment becomes more profitable and lucrative. Some outdated ASIC models, which in the second half of 2022 stopped generating income, with the current rate can reconnect to the network and yield profit,” said EMCD’s chief commercial officer Igor Rylnikov.

The co-founder of 51ASIC, Mikhail Brezhnev, estimated the entry threshold for private individuals at approximately ∽200,000 rubles. The anticipated payback period for the equipment is from one year to one and a half years. At the same time, experts noted that the industry is seeing a growing number of large corporate clients.

The main risk for mining in Russia remains regulatory uncertainty, in particular regarding tax rates. The relevant bill was registered with the State Duma of the Russian Federation since mid-November 2022, but has yet to have a single reading.

Earlier BitRiver experts stated that as a result of the first quarter of 2023 Russia for the first time took second place in the world by the volume of capacity deployed in mining.