Used miners for mining Bitcoin in China has risen by half. What is the price increase?

The largest producers of mining equipment, including PandaMiner, Bitmain, Ebang and Canaan sold all stocks of ASIC miners for mining Bitcoin. At the moment it is possible to reserve only Avalon1041 from Canaan, but the closest shipping planned in August.

The company representatives commented on the situation.

Our main activities are focused on mining rigs, but now everything is set-sold out. I think an influx of volunteers is directly connected with the growth of Bitcoin prices.

Source: 8BTC

In addition to the unexpected jump in the market, the shortage of miners was also due to the missing supply of chips. Chip manufacturers have for a long time could not start to work at full capacity due to a prolonged bear market, backed by a number of political factors.

Accordingly, due to insufficient supply of current models of miners the prices of used devices has also gone up.

Where interruptions in the supply of miners?

Source: 2Биткоина

In March, the majority of manufacturers of mining equipment could not know that within just a couple of months Bitcoin will jump to 13 800 dollars. In addition, shortly before Ebang even reduced the production up to 400 thousand units during 2019. And given the fact that this company only 6 months produced almost the same amount of equipment. Now it appears that the rapid increase in the price of BTC and a sharp increase in demand for mining equipment manufacturers are feeling a bit helpless and frustrated.

Source: 8BTC

According to the head of the international Department of sales and marketing in Canaan Steven Mosher, now the hardware inventory nearly exhausted, while the demand only continues to grow. It seems we are again seeing the script 3-4 blocks 2017, when the demand for ASIC miners and GPU was three times oversubscribed on the market.

All manufacturers of miners is tied to the whole supply chain. Accordingly, for the manufacture of a new batch or more modern models will take some time. We will remind, last time the demand for miners has decreased dramatically to almost zero after the rapid collapse of CryptoRandom. We can assume that the producers learn from the mistakes and now is not committed in advance to score the stocks of finished products.

Perhaps for this reason, in this industry there are supply disruptions. In our cryptodata of hontarov there are still a lot of other useful information.

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