Bitmain equipment drops to $5.5/TH/s, adding new pressure to the mining industry

Based on the latest market information, it has been revealed that the prices of Bitmain’s mining equipment are entering a large-scale discount phase. Several models are entering unprecedented low-price ranges, causing ripples throughout the industry.

Multiple Models Reach Historic Low Price Levels

Industry insiders estimate that the S19e XP Hydro and 3U S19 XP Hydro are priced at a minimum of $3/TH/s, the S19 XP+ Hydro at around $4/TH/s, the S21 immersion model at about $7/TH/s, and the S21+ Hydro at approximately $8/TH/s, all marking their lowest-ever price points. Notably, the minimum price at the recent auction sale of the S19k Pro was $5.5/TH/s. This suggests that the market is forming a layered pricing structure, especially when compared to the bundled plan price of about $4/TH/s set by the company for the S19 XP+ Hydro.

Hashrate Increase and Bitcoin Price Decline Contradiction

Currently, the network’s hashrate remains near an all-time high, while Bitcoin prices are sluggish. This seemingly contradictory phenomenon is fundamentally driving the sharp decline in equipment prices. The profitability of hashrate has fallen to multi-year lows, creating a vicious cycle where miners’ profit margins are severely squeezed.

Miner Profitability Deterioration and Impact on Equipment Market

This deteriorating business environment is causing a chain reaction in the mining industry. As miners’ profit margins decline, demand for new equipment decreases, especially for models with lower profitability efficiency, leading to a rapid cooling of investment interest. As a result, fierce price competition has emerged between ASIC manufacturers and secondhand sellers, resulting in unprecedented low price levels such as $5.5/TH/s. This trend hints at a forthcoming reshuffling of the mining equipment market.