Bitcoin’s rise leads to a shortage of mining equipment, most units are sold out, miners are concerned about supplies – Bitcoin news mining
As the Bitcoin economy has increased in value, the hashrate of the entire network has gradually increased as miners make lots of money to confirm blockages. However, getting bitcoin mining rigs is not that easy these days, and regional reports from China show that a large number of ASIC manufacturers have sold out for months. Due to the marked shortage, the values of Bitcoin mining equipment sold in secondary markets increased by 30-40% per machine.
Bitcoin mining rigs in China are sold out, miners worried about future supplies
Bitcoin mining is extremely competitive as massive operations with warehouses filled with application specific integrated circuits (ASIC) point to the BTC chain to take advantage of. Bitcoin (BTC) prices per unit have increased significantly in value this year, reaching an all-time high on a variety of exchanges around the world on November 30, 2020.
Meanwhile, the price has kept the SHA256 (Bitcoin mining algorithm) hashrate high overall as the BTC network is currently collecting 135 exahashes per second on Friday afternoon (EST).
Most of the major bitcoin mining rig manufacturers worldwide have sold out all of their units. The Innosilicon webshop shows that all SHA256-compatible miners are out of stock.
Just recently, Chinese finance columnist Vincent He reported that while BTC prices are skyrocketing, Bitcoin miners are sold out. The report from China notes that currently, “both new and old Bitcoin mining machines have increased in value by 30-40%”. During an interview with “some major mining practitioners in China,” the author stated that miners are increasingly concerned that there may not be enough machinery.
Vincent He went on to conclude that people suspect that “big institutional buyers” are eating up all the machines. This was a consistent trend in 2020, as news.Bitcoin.com reported on several mining companies like Marathon Group, Hut8, and Riot Blockchain, which were buying large quantities from ASIC miners.
Major manufacturers of Bitcoin Mining Rig delivery times 3-6 months
If you look at the websites of the major ASIC mining rig manufacturers, you can see that most of the units are actually sold out. Bitmain’s two newest models, the S19 of the Antminer series with 84 to 95 Terahash per second (TH / s), are sold out. Not to mention the fact that the batches won’t ship until May 2021. Likewise, Bitmain’s Whatsminer machines, Microbt’s competitors, cannot be delivered for the next four months.
Each Microbt model is shipped 120 days from dispatch after payment is received, as shown in the company’s mining rig webshop.
This includes the popular Whatsminer M30S series and lower models between 88 and 100TH / s.The company’s latest ASIC bitcoin mining rig, the Whatsminer M30S ++ (112TH / s), is also available for 120 days until the next delivery . Not only are these Bitcoin mining rigs sold out from Microbt and Bitmain, they are also the most powerful models in the world in terms of profits today.
The models from Ebang also have a delivery time of approx. 3 to 3.5 months after receipt of payment.
A look at the web portal of the ASIC rig manufacturer Ebang shows that every model sold is only sent “3-3.5 months after receipt of payment”. Kanaan buyers must check with the company’s messaging system to purchase ASIC mining rigs.
It is uncertain whether or not Canaan has miners for sale, but the company recently announced the launch of a new Avalonminer. 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 mining equipment is Innosilicon, but the company’s webshop explains that every model that mines BTC is all sold out.
Every single bitmain series of the SHA256 Antminer series sold is also out of stock. The last batch says that deliveries will be made in May.
Secondary markets sell ASICs for a premium
Almost all of the leading Bitcoin mining companies worldwide that make ASIC systems appear to be out of stock for at least a few months. Some competitors in ASIC manufacturing have some lower terahash units like the Chinese company Strongu. The company recently released the Strongu Hornbill H8 Pro (84Th / s) and the website says “Ships within a week of order confirmation”.
Of course, users can take advantage of secondary markets like Ebay or vendors who specialize in buying bulk ASICs to sell on the open market. Currently, most of these units sold by unofficial Bitcoin mining rig traders come with a substantial premium.
What do you think of manufacturers selling ASIC bitcoin miners and shipments that are out for four months? Let us know what you think on this matter in the comments section below.
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3-6 months, Antminer, ASIC miners, ASIC mining rigs, Avalonminer, Bitcoin, Bitcoin (BTC), Bitcoin miners, Bitcoin mining rigs, BTC, BTC mining, Kanaan, Kanaan-Kreativ, China, Chinese Miners, Ebang, Exahash, Hashrate, Innosilicon, Lead Time, Microbt, Mining Rigs, Out of Stock, Shipping, Sold Out, Strongu, Terahash, Vincent He, Whatsminer
Photo credits: Shutterstock, Pixabay, Wiki Commons, Kanaan Avalonminer, Bitmain, Ebang, Microbt, Innosilicon,
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