The Price Of Used Bitcoin Mining Hardware Has Risen Twice In China. What Is The Reason?
The largest manufacturers of mining hardware, including PandaMiner, Bitmain, Ebang and Canaan, have sold off all ASIC miners' stocks for Bitcoin mining. At the moment there is an opportunity to reserve only Avalon1041 from Canaan, but the nearest delivery is scheduled for August.
Representatives of the company have commented on the situation.
Our main activity is focused on mining hardware but now all the ready-made installations are sold out. It seems that the influx of those who wish is directly related to the increase in the price of Bitcoin.
In addition to the unexpected jump in the market, the shortage of miners is also due to the lack of supply of chips. Chip manufacturers could not start working in full force due to the long bear marketfor a long time, supported by a number of political factors.
However, due to insufficient supply of current models of miners, prices for used devices also rise.
In March, most manufacturers of mining hardware could not know that within the entire couple of months Bitcoin would jump to $ 13,800. In addition, shortly before this, Ebang even reduced the production of miners to 400 thousand units during 2019. And this is taking into account the fact that before this the company had produced almost the same amount of equipment in just 6 months. Now it seems that amid a booming BTC price and a sharp increase in demand for mining harware, manufacturers feel a little helpless and disappointed.
According to the head of the international sales and marketing department at Canaan, Steven Mosher, the hardware stocks have almost dried up, while demand is only continuing to grow. It seems that we are once again seeing the scenario of 3-4 quarters of 2017, when the demand for ASIC miners and video cards was three times higher than the supply on the market.
All manufacturers are tied to a whole supply chain. However, for the manufacture of a new batch or more modern models will take some time. Recall that last time the demand for miners dropped sharply to almost zero after the rapid collapse of crypto markets. It can be assumed that manufacturers are learning from mistakes and now do not strive to clog up warehouses with finished products.