bitcoin(BTC) mining equipment manufacturer bitmainannounced that prices fell 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. The biggest BTCfrom mining equipment manufacturers bitmainHe said prices have dropped by 70 percent this year.
Bitmain, proving the price decrease 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.
🗣 #BITMAIN is offering an #ANTMINER S19 Pro special discount for only $19/T! For bulk orders, please contact BITMAIN sales representative directly. Customers who have already purchased S19 Pro will be eligible for coupons. 🔗: https://t.co/a9TlaCNUph pic.twitter.com/CDxKBpxYUN
— BITMAIN (@BITMAINtech) September 20, 2022
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.
