Monday Mining Metrics: Price Is Increasing Faster Than Hashrate
Monday Mining Metrics 7/17/23 When the price of Bitcoin is increasing faster than hashrate (or not decreasing as slowly), then the profitability of Bitcoin mining increases. We have been in such a regime throughout most of 2023, including the month of July. Bull markets are the best time to mine because not only are you making a profit, but your profit margins are increasing which makes the value of your ASIC increase as well. It makes the most sense to acquire ASICs prior to a massive bull market, as the price of the machines will be lower and it also means you’ll be online for the entirety of the bull market.
Spot ASIC Pricing Below are the lowest current listing prices on the Blockware Marketplace for a variety of popular ASIC models: Antminer S19j Pro (-9.0%)
Antminer S19j Pro+ (+0.0%)
Antminer S19 XP (-9.3%)
Whatsminer M30s++ (-1.7%)
Whatsminer M50 (+3.5%)
Bulk ASIC Pricing
Contact sales@blockwaresolutions.com or reach out here. Negative Difficulty Adjustment Projected We are currently ~ ⅓ of the way through the current difficulty epoch and the projected adjustment is -5%. This will be a nice relief for miners following the previous adjustment of +7%. Miners with less efficient machines and higher energy costs may have unplugged after the latest difficulty increase. No other system in the world is capable of finding equilibrium as effectively as the Bitcoin network. Higher difficulty purges the weakest miners, and on the contrary, when blocks are coming in too slow, difficulty adjusts back down. Our team of analysts discussed Bitcoin hashrate, difficulty, and block randomness in a ‘Twitter spaces’ last week. Listen to that conversation here. Skip to timestamp: 38:13.
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