Although the economic value of Bitcoin continues to expand, as miners make a lot of money to confirm blocks, the hash rate of the entire network gradually rises. However, obtaining Bitcoin mining equipment is not an easy task nowadays. Regional reports in China indicate that a large number of ASIC manufacturers have been sold out for several months. In addition, due to the obvious shortage, the value of each machine of Bitcoin mining equipment sold on the secondary market has increased by 30-40%.
China’s Bitcoin mining equipment is sold out, and miners are worried about future supply
Bitcoin mining is extremely competitive because large-scale operations and warehouses full of application-specific integrated circuit (ASIC) equipment are directing the hash rate to the BTC chain for profit. This year, the price of Bitcoin (BTC) has risen sharply and hit a record high on November 30, 2020 on major exchanges around the world.
At the same time, the price has kept the overall SHA256 hash rate (the mining algorithm of Bitcoin) running high, as the BTC network currently captures 135 exahash per second on Friday (EST) Friday.
Just recently, Chinese financial columnist Vincent He reported that despite the soaring price of BTC, “bitcoin miners have been sold out”. According to a report from China, “the value of both new and old Bitcoin mining machines has increased by 30-40%.” In addition, in an interview with “some core mining practitioners in China”, the author explained that miners are increasingly worried that there may not be enough machines.
Vincent He further concluded that people suspect that “large institutional buyers” are devouring all machines. As reported by news.Bitcoin.com, multiple mining businesses such as Marathon Group, Hut8 and Riot Blockchain have purchased a large number of ASIC miners, which has been a stable trend in 2020.
Major Bitcoin mining equipment manufacturers have advanced the delivery time by 3-6 months
When checking the websites of major ASIC mining equipment manufacturers, you can see that most of the equipment is indeed sold out. The two latest models of Bitmain, the Antminer series S19, are sold out at 84 to 95 teraheras per second (TH/s). Not to mention the fact that mass production will not be shipped until May 2021. Similarly, Bitmain’s rival Microbt’s Whatsminer machine cannot be shipped within the next four months.
These include the popular Whatsminer M30S series and lower models between 88 and 100TH/s. The company’s latest ASIC bitcoin mining equipment Whatsminer M30S++ (112TH/s) is 120 days away from the next shipment. These Bitcoin mining equipment manufactured by Microbt and Bitmain are not only sold out, but in terms of today’s profits, they are the best performing models in the world.
After checking the portal website of ASIC drilling rig manufacturer Ebang, I found that all models sold will not be shipped until “3-3.5 months after payment”. Canaan buyers must check with the company’s messaging system to purchase ASIC mining equipment.
It is currently uncertain whether Canaan has miners available for sale, but the company recently announced the launch of the new Avalonminer. Although the latest Avalonminer 1246 Pro (90TH/s) will not be sold on the open market until January 2021. Another top manufacturing company on the list of profitable rigs is Innosilicon, but the company’s online store explains that every model that mines BTC has been sold out.
Selling ASICs at high prices in the secondary market
Almost all the top Bitcoin mining manufacturers producing ASIC rigs in the world seem to be out of stock for at least a few months. Some ASIC manufacturing competitors do have some lower terahera units, such as China’s Strongu operation. The company recently released the Strongu Hornbill H8 Pro (84Th/s), and the website does say that “it can be shipped within 1 week after confirming the order”.
Of course, users can use the secondary market, such as Ebay or a supplier that specializes in buying bulk ASICs to sell on the open market. As of now, most of these equipment sold by unofficial bitcoin mining equipment dealers have a high premium.
What do you think about manufacturers selling ASIC bitcoin mining machines and delaying shipments by four months? Let us know your thoughts on this topic in the comments section below.
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3 to 6 months, Antminer, ASIC miner, ASIC mining equipment, avalonminer, Bitcoin, Bitcoin (BTC), Bitcoin miner, Bitcoin mining equipment, BTC, BTC Mining, Canaan, Canaan Creative, China, China Miner, Ebang, Exahash, Hashrate, Innosilicon, lead time, Microbt, mining equipment, out of stock, shipping, sold out, Strongu, Terahash, Vincent He, Whatsminer
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