Prices for top ASICs are down anywhere between 15-20%.
Overview
-Hashrate demand continues to climb
-New rigs coming out to increase hashrateBitcoin has grinded sideways for most of 2022 while hashrate continues to climb. Demand has seemingly subsided for BTC the asset and ASIC prices have continued to fall – down between 15%-20% over the last 90 days – making spot ASIC purchases increasingly attractive for investors with a bullish outlook.
It could be that the bull market has ended. Or that ample amounts of machines are being produced to fit market needs. But generally, when there is less demand for the asset in the space, mining rig prices follow suit.
Historically, mining prices correlate to the price of Bitcoin. When there is large demand for Bitcoin, bitcoin ASIC prices increase. Over time, new ASICs hit the market, the supply will increase and the price per ASIC will bleed.
Hashrate continues to climb as more miners plug in machines. Difficulty’s rate of growth has slowed over the last few epochs, losing 1.5% and .4% in the last two prior adjustments. Still, difficulty continues its march upward overall. With each difficulty adjustment it gets harder to mine the same amount of Bitcoin.
