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As the bitcoin economy has swelled in value, the overall network hash has gradually increased, as miners earn a lot of money to confirm lockdowns. However, getting Bitcoin mining rigs is not that easy these days, and regional reports from China indicate that a large number of ASIC makers are depleted for months. Additionally, due to the obvious shortage, bitcoin mining rigs sold in secondary markets have seen their values increase by 30-40% per machine.
Bitcoin mining rigs in China sell out, miners worry about future supply
Bitcoin mining is extremely competitive, as massive operations with warehouses full of application-specific integrated circuit devices (ASICs) point the hash to the BTC chain in order to profit. Bitcoin (BTC) prices per unit have risen significantly this year and hit an all-time high on a variety of exchanges around the world on November 30, 2020.
Meanwhile, price has kept the overall SHA256 hashrate (Bitcoin’s mining algorithm) high, as the BTC network currently captures 135 exhash per second on Friday afternoon (EST).
Most recently, Chinese financial columnist Vincent He reported that while BTC prices have skyrocketed, “bitcoin miners are exhausted.” The report from China notes that currently, “both new and old bitcoin mining machines have gained a 30-40% increase” in value. In addition, while interviewing “some practitioners of the mining industry in China,” the author explained that miners are increasingly concerned that there are not enough machines.
Vincent He further concluded that people suspect that “large-scale institutional buyers” are eating all the machines. This has been a consistent trend in 2020, as news.Bitcoin.com reported multiple mining operations such as Marathon Group, Hut8, and Riot Blockchain purchasing large amounts of ASIC miners.
Major Bitcoin Mining Platform Manufacturers Deliver 3-6 Month Delivery Times
Looking at the websites of the major manufacturers of ASIC mining rigs, it can be seen that most units are indeed sold out. Bitmain’s last two models, the Antminer S19 series, both 84 to 95 terahash per second (TH / s) are sold out. Not to mention the fact that the bundles won’t ship until May 2021. Likewise, Bitmain’s competitor, Microbt’s Whatsminer machines, are also down for the next four months.
This includes the popular Whatsminer M30S series and lower models between 88 and 100TH / s. The company’s latest bitcoin ASIC mining platform, the Whatsminer M30S ++ (112TH / s) is also 120 days before the next shipment. These bitcoin mining platforms made by Microbt and Bitmain are not only sold out, but they are the best performing models in the world in terms of profit today.
A review of platform maker ASIC Ebang’s web portal shows that every model sold will only ship “3-3.5 months after payment.” Canaan buyers should check with the company’s messaging system to purchase ASIC mining rigs.
It is not certain whether or not Canaan has miners to sell, but the company recently announced the launch of a new Avalonminer. Although the latest Avalonminer 1246 Pro (90TH / s) will not be sold on the open market until January 2021. Innosilicon is another prominent manufacturing company on the list of profitable mining rigs, but the online store of the company explains that every model that BTC mines have all sold out.
Secondary markets sell ASICs for a premium
Almost all of the major bitcoin mining manufacturers in the world that produce ASIC platforms appear to have been out of stock for at least a few months. A few ASIC manufacturing competitors have inferior terahash units available such as China’s Operation Strongu. The company recently released the Strongu Hornbill H8 Pro (84Th / s) and the website says “ships within 1 week of order confirmation”.
Of course, users can take advantage of secondary markets like Ebay or vendors specializing in buying ASICs in bulk to sell them on the open market. Right now, most of these units sold by unofficial Bitcoin mining rig dealers carry a hefty premium.
What do you think of the manufacturers selling bitcoin ASIC miners and shipments in four months? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Canaan Avalonminer, Bitmain, Ebang, Microbt, Innosilicon,
Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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