Why Are Bitcoin Mining Rigs In A Downward Spiral

2022-4-21 22:00

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 since August of last year.

To understand why this trend may be occurring, it’s best to take a look at the “Bitcoin mining hashrate” indicator first.

This metric is a measure of the mining power for a rig. The value of the hashrate tells us how many hashes can the machine perform in one second on the network.

The total BTC hashrate is, therefore, a measure of the total computing power connected to the BTC blockchain network.

Related Reading | National TV Exposure: “60 Minutes Overtime,” About The Bitcoin Beach Wallet

The cost of a mining rig is measured in terms of the price per TH/s (terahashes per second). The below chart shows how the price has changed over the past year:

Looks like the price per TH/s for the under 38w/TH rigs has dropped off in recent months | Source: Arcane Research's The Weekly Update - Week 15, 2022

The above graph has curves for two different categories of Bitcoin mining rigs, one of them consumes below 38w/TH while the other has a wattage of more than 68w/TH.

It seems like the below 38w/TH machines have observed a significant downtrend over the past few months, taking their price to the lowest it has been since August of last year.

Related Reading | From The Ground: The Bitcoin 2022 Conference In Tweets From The General Public

A major reason behind the cost of mining rigs going down would be the low profitability of miners at the moment.

The total Bitcoin hashrate has stagnated near ATH values for a while now, which has resulted in immense competition between miners.

This, combined with the fact that the BTC price has been struggling lately, has lead to extremely tight margins for miners as the mining profitability has fallen to a one-year low.

BTC Price

At the time of writing, Bitcoin’s price floats around $42k, up 6% in the last seven days. Over the past month, the crypto has lost 1% in value.

The below chart shows the trend in the price of the coin over the last five days.

The price of BTC looks to have surged up over the last couple of days | Source: BTCUSD on TradingView

A few days back, Bitcoin suffered another plummet that took the crypto below the $39k level for the first time in more than a month. But, it looks like the price has now recovered a bit as the coin breaks above $42k again.

Featured image from Pixabay.com, charts from TradingView.com, Arcane Research

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Speed Mining Service (SMS) на Currencies.ru

$ 1.9622 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.9622 - H: $1.9622
Капитализация $205.406k Rank 99999
Доступно / Всего 104.68k SMS

mining rigs bitcoin cost spiral downward report

Источник: bitcoinist.com

mining rigs → Результатов: 126


Фото:

Braiins OS Publishes Open Source Firmware for Mining Rigs

This week the software developers behind the mining operation Slush Pool have announced a new organization alongside releasing an open source operating system (OS) for cryptocurrency devices. The new offshoot company called Braiins has produced a Linux based system for bitcoin mining rigs and they plan to extend the OS to other digital currency software […] The post Braiins OS Publishes Open Source Firmware for Mining Rigs appeared first on Bitcoin News.

2018-9-29 17:08


Фото:

ASIC Vs. GPU Debate Ignites Ahead Of Devcon4 And Constantinople Hard Fork

As the impending Constantinople hard fork and Devcon4 draw nearer, the ongoing ASIC vs. GPU mining rig debate appears to have re-emerged. Some in the mining community are campaigning to block ASIC mining rigs, arguing that failing to do so will push GPU mining operations out of business, further plummet the value of Ether, and lead to network centralization.

2018-8-18 01:29


Фото:

Squire Partnership Gives Coingeek Exclusive Rights to 10nm ASIC Chip

On Wednesday, August 15, blockchain firm and mining organization Coingeek, led by entrepreneur Calvin Ayre, announced that the company has signed a deal with Canada-based Squire Mining Limited. Coingeek details the company will have exclusive rights to Squire’s new ASIC chips and mining rigs that mine bitcoin cash (BCH) and a variety of other cryptocurrencies.

2018-8-16 03:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bollinger Bands Inventor Foresees Bitcoin Pullback: Key Levels To Watch

Renowned financial analyst John Bollinger has recently issued a caution regarding the potential for a Bitcoin pullback. After BTC price surged from below $66,000 to almost $72,000 at the beginning of the week, Bollinger, the creator of the widely utilized Bollinger Bands indicator, pointed to specific features in the Bitcoin price chart that suggest a consolidation or pullback could be imminent, though he clarified that his perspective was not bearish on a longer term.

Perennial Bitcoin Accumulators Bought Big Ahead Of Rally, Data Shows

On-chain data shows that Bitcoin addresses with zero sales histories participated in a big accumulation before this recovery run started. Bitcoin Inflows To Accumulation Addresses Sharply Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the accumulation addresses on the Bitcoin network have shown some significant inflow activity recently.

Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals

An analyst has explained how profit-taking looks to have finished for Bitcoin in what has been a “very healthy reset” for the market. Bitcoin SOPR Suggests Profit-Taking From Investors Has Cooled Off In a new post on X, analyst Willy Woo has discussed about the latest trend occurring in the Bitcoin Spent Output Profit Ratio (SOPR).

4 Key Reasons Why The Bitcoin Bull Run Is Far From Over

In an analysis shared via X, renowned crypto analyst Ted (@tedtalksmacro) has provided compelling evidence to support his assertion that the current Bitcoin bull run is far from over. Ted’s insights are based on four critical indicators related to traditional finance and crypto liquidity, each pointing to sustained growth in the near future.

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed.

Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top

On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021. Bitcoin Long-Term Holder Distribution Appears To Be Ending As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of […]