Chinese Cryptocurrency Miners Selling their used ASIC models

blogs CryptoCurrency

It looks like dropping graph of cryptocurrency is directly affecting miners these days. 80% price fall of Bitcoin can also be a reason. Energy cost of mining is getting high and cryptocurrency market is not getting expected bull run this season.

It is said that, lots of chinese cryptocurrency miners are not getting profit from mining, so they are selling their used old models to get back some investment.

According to local news outlet 8BTC, old ASIC machines like the Antminer S7, the Antminer T9, and the Avalon A741, have reached what’s being called a “shutdown price,” a price in which miners aren’t able to cover the energy costs associated with running these machines.

Per the local news outlet, some miners are being sold for anywhere between $15 and $100. Initially, Antminer T9’s – which are currently being sold for little over $200 on Bitmain’s website – were going for over $1,500.

In tweet this was seen, “another factor is electricity cost, current season in China is dry season so many hydro based mining power facing peak cost of the year, which makes it even worse. Also some top mining pool owners were saying they were operating at loss for last 3 months which is rare since 2014”


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