Is the price increasing of the Bitmain Antminer S19?
Why is the Bitmain Antminer S19 Price increasing? Stringent new Chinese cryptocurrency regulations have pushed out major mining operations in the region that has, in recent history, held more than 65% of global hashpower. The sudden absence of hashpower in this key mining region has led to both a temporary drop in Bitcoin prices and a reduction in Bitcoin mining difficulty. In the midst of these significant changes, a surprise move from a leading mining equipment supplier is expected to sharply drive up prices.
Bitmain, a Beijing-based Bitcoin mining equipment manufacturer, announced an immediate halt of the sale of its top-tier mining equipment in order to mitigate against drastic market price drops due to a flood of second-hand machines from China, with many being shipped to Kazakhstan.
Kazakhstan shares a border with China and charges low import tariffs, making transport of machinery into the country both cost and time efficient. This has resulted in a number of miners turning their attention to Kazakhstan rather than the United States. A level of fear and uncertainty was present amongst Chinese miners over the last few weeks, dumping miner prices due to their inability to find hosting services for their equipment; FUD is further amplified by lower Bitcoin prices. Bitmain’s move protects owners of its mining hardware from this drastic decrease in the value of mining rigs.
As a result of the regulations in China and the exodus of miners from the region, available infrastructure for supporting such a volume has been tight. However, the price of miners is already recovering as this supply of displaced miners dries up, and activity surrounding infrastructure build outs around the world picks up speed.
When is the best time to buy the Antminer S19?
If you were waiting for the best possible time to purchase mining equipment, it’s here, as prices will only continue to increase. This high-demand market is now facing the temporary withdrawal of one of its main suppliers, which makes an upward price correction likely. Bitmain’s Antminer S19 is an internationally sought-after miner with a low quantity in the market and is likely to increase in price as demand outweighs available supply.
Beyond the supply shortage, demand for mining equipment is rising with mining difficulty decreasing due to the global hashrate dropping to nearly half of its peak. This means miners are competing with fewer other miners to solve the same blocks on the blockchain, making the difficulty of each individual computation on each block simpler. Therefore, miners can actually yield up to 27% more Bitcoin with their existing equipment. Global hashrate is expected to take at least 2 years to rebound as facilities being built around the world will take time to develop. There is no better time to be a miner - those who invest in equipment now can accumulate Bitcoin at a rate more rapid than we have seen in recent times, reaping substantial profits once the coin’s value returns to the upward trend that has carried it above a market value of $60,000 earlier this year. Further, the current profitability due to this decrease in mining difficulty is equal to when the $60,000 market value was present.
To profit from your equipment investment, you also need hosting availability at a time when it is extremely scarce. Wattum recognized an opportunity in Kazakhstan early on and moved proactively to partner with Enegix, offering 8MW of hosting for our customers with ongoing plans for further expansion. This facility offers energy prices among the world’s lowest, video and personnel surveillance, and on-site maintenance and support. Moreover, Wattum is an internationally trusted Bitcoin mining farm management company with coverage options to ensure the safety of your machines. Take advantage of this market trough and follow in the footsteps of top cryptocurrency firms: begin mining with Wattum in Kazakhstan today.