As the cryptocurrency market struggles, Bitmain, the leading producer of application-specific integrated circuits (ASICs), has implemented significant price reductions on its mining hardware, including the S19 and S21 series. The company is also offering various bundle deals, indicating a response to the adverse conditions within the mining sector.
The mining industry is facing one of its toughest profitability challenges, with the hashprice, which measures expected revenue per unit of computing power, plummeting to approximately $35 per terahash/second per day. This is well below the breakeven point of $40 per TH/s/day, prompting many mining operators to rethink their ongoing operations.
Recent reports suggest that discounts of up to $7 per terahash-second have been applied to even the latest immersion-cooled ASICs, with some hardware bundles auctioned off with flexible pricing options. The downturn in Bitcoin's value, which has dropped from over $126,000 in October to a low of $80,000 in November, has only exacerbated these challenges, leading miners to explore renewable energy solutions to mitigate rising costs.