Bitcoin (BTC) mining equipment manufacturer Bitmain has announced that prices have dropped by 70 percent due to the bear market and the global energy crisis.
Worldwide energy use policies, rising electricity prices and the decline in the crypto market directly affect crypto mining. The reflection also causes the margins of producers and mining companies to decrease. Bitmain was one of the companies that experienced a decrease in profit margins related to crypto mining.
Bitcoin Mining Equipment Prices Drop
Bitcoin miners and associated companies have often suffered the brunt of the ongoing market crash, with the majority having to readjust their operations. Bitmain, one of the largest BTC mining equipment manufacturers, said that prices have dropped 70 percent this year.
Bitmain, proving the price drop in its campaign sharing on Twitter, said that it will reduce the price of the Antminer S19 Pro 100 terahash (TH) model to $ 19 / TH, about 30 percent below the market price in an index maintained by Luxor Technologies.
https://twitter.com/BITMAINtech/status/1572210244595646470
Bitmain declined to specify what the price was before the discount. However, according to the terms of the agreement published on Bitmain’s website, only 200 machines can be purchased with a discount.
Although the decline in the entire market has reduced product costs, falling BTC prices are pushing miners to sell their BTC to continue mining and to cover operational costs such as electricity.
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