The most efficient bitcoin mining machines are selling for ~$24 per 100 terahashes, down from $106 in 2021, as unprofitable miners are forced to sell equipment
Unprofitable miners have become forced sellers of their own crypto equipment — There's a fire sale on bitcoin-mining hardware.
(1/2) “We estimate that we could replace the ~26,000 returned miners for <$40mm at current market prices, compared to the ~$67mm of debt that is being extinguished” (Source: $SDIG October 14, 2022 Investor Presentation) And now this from the WSJ: (Source: https://www.wsj.com/...)
The ewaste from the increased burn out of machines created by mining for bitcoin is already incredible. I hope these machines get purchased and put to a good and more sustainable use. https://twitter.com/...
There's a fire sale on #bitcoin - mining hardware from @paulvigna @WSJ “The industry as a whole is under pressure, but investors are looking at it as an opportunity,” said @Grayscale Chief Executive Michael @Sonnenshein. https://www.wsj.com/...
The “most efficient #Bitcoin mining machines are selling for 77% less than last year. The machines, used to process transactions, currently cost about $24 per 100 “terahashes,” a measure of the machine's computing power, vs $106 a year ago.” https://www.wsj.com/...