Bitcoin Price Surge: BTC Mining Machines’ Huge Sales
Bitcoin Price Surge Impacts Cost of Mining Machines
Bitcoin price has recently surged to high levels. So has the price of Bitcoin mining machines in China, with there being a significant number of buyers from Russia alone.
The recent spike in the Bitcoin price has sharply driven the price of such machines to new highs in the Shenzhen region of China. As per a local newspaper of Beijing, Ant mining machines’ costs have increased by 30% when compared to that in the previous year. These machines are developed as well as produced by Bitmain.
Note that the buyers are mainly from Russia, the US, China itself and several other places including Ethiopia.
The machines are high in demand. Not just hundreds, but thousands of the machine units have been purchased, resulting in the “out of stock” position, as revealed by the merchants.
Main Factors Behind The Recent Spike
The major driving force is the spike in Bitcoin price that resulted from high market enthusiasm. Donald Trump’s plans of creating a US bitcoin strategic reserve are also in the news for many days, further adding fuel to the already increased demand of the bitcoin mining machines.
As per another merchant, the Antminer S21 335T is now priced at $5600 per unit, which is 30 times the price in 2023. The merchants are happy as they had no issues selling the machines today which are no more in stock.
The machines have also reached prices as high as $10124.
Russia: The Top Buyer
One of the main reasons for huge demands coming from Russia is cheap electricity available in the country due to great crude oil and natural gas production output. In fact, it is interesting to know that the Russians enjoy some of the cheapest electricity costs in the world.
Hundreds of BTC mining machines have been bought in the country, that too, just by a few miners from Russia. There are merchants in China who have traded thousands of machines recently.
A business owner said that 2025 will be the real bull market for Bitcoin.
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