As Bitcoin Price Falls, Is Now The Time To Buy Mining Rigs?
The drop in bitcoin price means mining rigs are on sale and prospective buyers may see big discounts before the summer ends.One reason why miners often pay close attention to bitcoin’s price is because mining machines have a strong positive correlation to its fluctuations. And as bitcoin’s dollar-denominated value has dropped precipitously this month, mining hardware prices followed.At its recent lows, bitcoin was trading near $17,000, a drop of over 60% year to date. Over the same period, prices for the most efficient mining machines fell by 41%, as detailed below.Observing the....
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The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting inconsistencies in the transport documentation. Rigs Are Presumably ASIC Miners According to a press note published by the GNB, the procedure took place in a checkpoint on the Bolivar state, specifically in the Puente Angostura. An individual transported the bitcoin (BTC) mining equipment on a....
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink. Cost Of Bitcoin Mining Rigs Has Been On A Downward Spiral Recently As per the latest weekly report from Arcane Research, BTC mining rigs are now at their lowest cost […]
Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs are profiting at current bitcoin exchange rates. The price of bitcoin (BTC) is hovering just above the $11K region and during the last few days, the network’s hashrate has touched a new ATH. At the time of writing, BTC’s hashrate is fluctuating between 130 to 140 exahash per second (EH/s), and on Wednesday evening (ET) the metric....
After miners allegedly siphoned off nearly $2 million worth of electricity to fuel the energy-intensive bitcoin mining rigs, Malaysian police seized and destroyed 1,069 bitcoin mining rigs by crushing them with a steamroller. Bitcoin Mining Rigs Destroyed Authorities in Malaysia destroyed Bitcoin mining equipment worth more than $1.2 million after seizing them for operating illegally. […]
As bitcoin’s value has increased, the global hashrate has been steadily climbing higher week after week. On Sunday, the hashrate dedicated to the Bitcoin network is hovering just above the 155 exahash (EH/s) handle and bitcoin’s price has made a great number of mining rigs more profitable. Older generation mining rigs like Bitmain’s Antminer S9 series with hashrate speeds around 11 TH/s or higher are also profiting.
Bitcoin Hashrate Climbs, Mining Rigs Gather Higher Profits
Six days ago, Bitcoin’s overall hashpower was around 130 exahash per second....