{"id":68907,"date":"2022-10-21T11:38:28","date_gmt":"2022-10-21T08:38:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68907"},"modified":"2025-09-07T16:53:17","modified_gmt":"2025-09-07T13:53:17","slug":"foundry-says-the-asic-miner-market-is-in-a-deflationary-spiral","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/foundry-says-the-asic-miner-market-is-in-a-deflationary-spiral\/","title":{"rendered":"Foundry says the ASIC-miner market is in a deflationary spiral."},"content":{"rendered":"<p>As the ASIC-miner market has stalled in a deflationary spiral, there is an obvious gap between the prices sellers are asking and what buyers are willing to pay. This is evidenced by data from Foundry.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Sign up to receive regular updates and data on the ASIC market from FoundryX: <a href=\"https:\/\/t.co\/fbHsjCcxoE\">https:\/\/t.co\/fbHsjCcxoE<\/a> <a href=\"https:\/\/t.co\/M5e3VZEJqZ\">https:\/\/t.co\/M5e3VZEJqZ<\/a><\/p>\n<p>\u2014 Foundry (@FoundryServices) <a href=\"https:\/\/twitter.com\/FoundryServices\/status\/1583244915383099392?ref_src=twsrc%5Etfw\">October 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For latest-generation devices such as the Bitmain Antminer S19J Pro, buyers are prepared to pay $15 per TH or less. Most sellers are asking $20 per TH.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe market is somewhat blocked, as many miners face a cash crunch, and hosting capacity remains constrained. Nevertheless, mid\u2011market deals around $18\/TH are being done,\u201d the company noted.<\/p>\n<\/blockquote>\n<p>In recent months, cryptocurrency miners have faced falling revenues as Bitcoin tumbled and mining difficulty rose. Against this backdrop, prices for ASIC miners have fallen about 80% from their peak, according to Foundry.<\/p>\n<p>In September the industry faced <a href=\"https:\/\/forklog.com\/en\/news\/compute-north-files-for-bankruptcy\">the first major bankruptcy<\/a> \u2014 hosting provider Compute North filed for bankruptcy. Some companies, such as <a href=\"https:\/\/forklog.com\/en\/news\/stronghold-digital-mining-to-save-up-to-25-million-after-termination-of-deal-with-northern-data\">Stronghold<\/a> or Argo Blockchain, are trimming costs and selling equipment.<\/p>\n<p>Other firms are using the bear market to acquire assets, such as <a href=\"https:\/\/forklog.com\/en\/news\/cleanspark-agrees-to-buy-operating-bitcoin-mining-facility-for-16-2-million\">CleanSpark<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/crusoe-acquires-bitcoin-miner-great-american-mining\">Crusoe<\/a>.<\/p>\n<p>Grayscale Investments, affiliated with Foundry, <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-creates-vehicle-for-bitcoin-mining-investments\">launched<\/a> a structure for investing in mining equipment. The firm saw an opportunity to buy Bitcoin miners at significantly reduced prices amid crypto-winter.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe receive several inquiries per week from institutional investors looking to acquire distressed mining assets,\u201d confirmed Foundry.<\/p>\n<\/blockquote>\n<p>In August and September miners <a href=\"https:\/\/forklog.com\/en\/news\/report-bitcoin-miners-halt-liquidation-of-cryptocurrency-reserves\">sold fewer bitcoins than they mined<\/a> for the first time since May, according to Hashrate Index.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the ASIC-miner market stalls in a deflationary spiral, there is an obvious gap between the prices sellers are asking and what buyers are willing to pay, according to Foundry.<\/p>\n","protected":false},"author":1,"featured_media":68908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1506],"class_list":["post-68907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-foundry"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68907"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68907\/revisions"}],"predecessor-version":[{"id":68909,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68907\/revisions\/68909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68908"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}