Causing Shortage Of Mining Rigs Is The Rise Of Bitcoin: Almost All Units Are Sold Out With Miners Being Concerned About Supply.
In demand are bitcoin mining rigs. What are the reasons? Get a detailed look into the situation at hand.
Bitcoin On The Rise
The overall network hashrate has gradually climbed higher as miners are making a lot of money confirming blocks while the bitcoin economy has swelled in value. Regional reports from China indicate a great number of ASIC manufacturers are sold out for months as however obtaining bitcoin mining rigs isn’t so easy these days. Bitcoin mining rigs being sold on secondary markets have seen values increase by 30-40% per machine moreover, because of the clear shortage.
As Miners Grow Worried About Future Supply, Bitcoin Mining Rigs in China Sell Out
As massive operations with warehouses filled with application-specific integrated circuit devices are pointing hashrate at the BTC chain in order to profit as bitcoin mining is extremely competitive. Touching an all-time price high on a variety of exchanges worldwide on November 30, 2020, are BTC prices per unit increased in value a great deal this year.
As the BTC network is currently capturing 135 exahash per second on Friday afternoon EST, meanwhile the price has kept the overall SHA256 hashrate running high.
Having sold out of all of their units is most of the major bitcoin mining rig manufacturers worldwide. All the SHA256 compatible miners are out of stock as shown by Innosilicon’s webshop.
Reporting that while BTC prices are skyrocketing as bitcoin miners are sold out according to Chinese financial columnist Vincent He just recently. Presently both new and old bitcoin mining machines have gained a 30-40% increase in value is the report from China noting it. The author explained that miners are growing worried there might not be enough machines further while interviewing some core mining practitioners in China.
People suspect large-scale institutional buyers are eating up all the machines as Vincent He further concluded. As reported on multiple mining operations like Marathon Group, Hut8, and Riot Blockchain purchasing vast quantities of ASIC miners has been a consistent trend in 2020.
Shipping Lead Times 3-6 Months Out For Major Bitcoin Mining Rig Manufacturers
One can see that most units are indeed sold out while looking at the major ASIC mining rig manufacturer’s websites. Sold out are Bitmain’s latest two models the Antminer series S19s both 84 to 95 terahash per second (TH/s). The batches are not shipping until May 2021 not to mention the fact. For the next four months, similarly Bitmain’s competitor Microbt’s Whatsminer machines are also unavailable to ship.
According to the company’s mining rig webshop, every Microbt model is 120 days out from shipping after the payment.
The popular Whatsminer M30S series and lower models between 88 to 100TH/s, is included. Thereby for the next shipment, the firm has the latest ASIC bitcoin mining rig coming as the Whatsminer M30S++ (112TH/s) is also 120 days out. They are the world’s top-performing models in terms of profits today as these bitcoin mining rigs made by Microbt and Bitmain are not only sold out.
Having a shipping lead time of around 3-3.5 months after the payment is Ebang’s model.
Showing that every model sold won’t be shipped until 3-3.5 months after payment looking at the web portal from the ASIC rig manufacturer Ebang. In order to purchase ASIC mining rigs, Canaan buyers have to inquire with the company’s message system
The company recently announced the launch of a new Avalonminer as it is uncertain whether or not Canaan has miners available to sell. Until January 2021, although the latest Avalonminer 1246 Pro (90TH/s) won’t be sold on the open market. The firm’s webshop explains that every model that mines BTC has all sold out as another top manufacturing company on the list of profitable mining rigs is Innosilicon.
The last batch says shipments will go out in May as every single SHA256 Antminer series Bitmain sells is also out of stock.
Finally, To Conclude, Secondary Markets Sell ASICs For A Premium
Seeming to be out of stock for at least a few months, are near all the top bitcoin mining manufacturers worldwide that produce ASIC rigs. Like the Chinese operation Strongu, a few ASIC manufacturing competitors do have some lower terahash units available. The website does say shipping within 1-week order confirmation, as the firm recently released the Strongu Hornbill H8 Pro (84TH/s).
In buying bulk ASICs to sell on the open market are, of course, users who can leverage secondary markets like Ebay or vendors that specialise. Thereafter as these units are now being sold by the non-official bitcoin mining rig dealers it then carries a significant premium as of right now.