Bitcoin miners’ prices slump to year-to-date lows

ASIC miners for Bitcoin mining are selling at the lowest prices since the May 2021 peak, according to Hashrate Index.

Prices of flagship models such as Antminer S19 or Whatsminer M30 with efficiency above 38 J/TH have fallen to $15.71 per TH. In May last year the figure reached $119.25.

Less efficient equipment class (38-68 J/TH) for the corresponding period fell from $96.24 to $10.23 per TH.

Even for older devices like Antminer S9 (＞68 J/TH) buyers paid almost $51 per TH a year and a half ago. Now — only $4.7.

The chart shows an evident link between the price of mining hardware and the Bitcoin price. However, in recent months the correlation has broken down.

During the 2021 bull run, companies actively borrowed to purchase equipment, often secured by it. Bloomberg estimated the volume of these debt under threat at $4 billion.

According to the agency, the largest lenders were NYDIG, Celsius Network, BlockFi, Galaxy Digital and Foundry, part of DCG. Over the year some miners began to return tens of thousands of rigs, unable to service debt. In experts’ opinion, this put pressure on equipment prices.

In November, the total revenue of Bitcoin miners amounted to $473.2 million, down 20% from October’s figure. This follows from ForkLog’s monthly analytical report.

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