I'm moving from GPU and CPU mining to ASIC and noticed the prices for the Bitmain S19s have dropped a ton, from around 10K to 3K. Is this price drop just because of the bear market or is there more to it? Like bans on mining in the USA or some new tech coming? Will Intel's new ASIC chip be better than the S19s? And if yes, when can the average miner actually buy it?
Market prices generally reflect what people can pay. With all the mega-farms snatching up gear, Bitmain and others have to lower their prices to stay competitive. Even now, they’re likely still making a solid profit, just not the insane margins they had before.
Once Bitcoin tanked, it was like a bubble burst. Just like the tech stocks in the dot-com craze. Those massive farms might go bankrupt, leaving suppliers with some serious problems. I doubt Intel is gonna dive deep into mining chips since the market is so tiny. They might do chips for general security needs though, that’s a big market.
If you’re eyeing that S19 at $3200… don’t. Unless your electricity is super cheap, like 5c/kwh, it’s gonna take ages to get ROI. The S19 H has a better return at the same rates. Prices spike when revenue per TH/s rises, but crash once reality kicks in. Just look at how it's dropped from $40 a day to $7 now.
Intel's got a BTC ASIC in the works but hasn’t launched it yet. You know what an ASIC is, right? It’s a chip made for a specific job. The BTC ones won’t help in network security, but there are ASICs for other tasks, like encryption. They’re everywhere, even in your TV.
I really think Bitcoin will bounce back once the recession passes. I’ve lost trust in fiat. Bitcoin’s limited supply and decentralization make sense. They can’t twist Bitcoin like they did with others. But I hear this forum seems to think BTC is heading for a crash. Do you really believe it’s worthless or that governments will ban it?
Consensus here? It’s the opposite of what you think. The narrative has always been BTC’s going to zero, yet it’s held on. If you believe it’ll go up, buying BTC directly might be better than mining. But hey, if your power costs over 6 cents, go for buying BTC instead of mining.
I always thought miner prices were nuts. You barely break even if power costs are low. With electricity going up and Bitcoin prices down, it’s no surprise miners are dropping in price too. If you’re not into mining for fun, just buy and hold Bitcoin instead.