According to a regional report from China, bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies like Canaan Creative have placed significant mining equipment orders while other companies like Bitmain are completely sold out.
Bitcoin mining rig manufacturers are experiencing a boom in device requirements
Bitcoin (BTC) prices appreciated significantly in February, which has fueled the BTC mining sector significantly. On Friday, the Bitcoin network hashrate is hovering above the 150 exahash (EH / s) range and there are 21 pools driving the hash rate onto the blockchain.
On Sunday, February 21, 2021, BTC prices hit an all-time high (ATH) of $ 58,354 per unit, but the price has depreciated since then. The price per BTC was hovering around the $ 47,000 handle at the time of publication on Friday afternoon (EST).
A regional report from China detailed on Thursday that Chinese companies that manufacture mining equipment are experiencing high demand for products. China’s Global Times employee Yin Yeping points out that mining machinery manufacturers [are] to see an increase in demand. “
The report notes that Shanghai Securities News revealed that Canaan Creative’s shares were up 318% this year. In addition, shares in Ebang and Ebon International rose 82%.
Pre-orders and stock sold out
Yeping’s report also states that Kanaan has revealed that there has been an “order surge” since last year. Central Asia and North America were the two regions with the greatest demand for mining equipment, Canaan said.
On Tuesday, Canaan announced to the regional publication that pre-orders have been placed by both Core Scientific and Hive Blockchain. Canaan will supply 6,400 ASIC mining machines to Hive and 6,000 mining machines to Core Scientific.
Canaan said it had 100,000 pre-orders from customers in North America this year and the company claims it received up to $ 200 million in upfront payments. Yeping also points out that Bitmain is completely sold out and “new products are not yet available”.
Bitmain’s website shows the company’s latest machines, but the machines are actually sold out and the website’s new orders display says “To Be Determined (TBD)”. Microbt’s Whatsminer products are also sold out.
Innosilicon’s ASIC mining rigs are completely sold out, and according to Ebang’s web portal, customers have to submit an inquiry about orders. The Ebang website also states that the shipments are made “3 to 3.5 months after receipt of payment”.
The lack of availability of ASIC straight from the sources has rocketed prices for Bitcoin mining rigs in the second market. For example, a Whatsminer M20S 68TH / s made by Microbt sells for $ 5,000 in the US on Ebay. 11-13TH / s machines sell for $ 250-800 per unit on Ebay.
What do you think of the increasing demand for Bitcoin mining machines? Let us know what you think on this matter in the comments section below.
Tags in this story
Preorders, Bitcoin Mining, Bitmain, BTC Mining, Kanaan, Ebang, Machinery, Manufacturers, Microbt, Mining, Mining BTC, Mining Oil Rigs, Secondary Markets, Stocks, Sold Out, Whatsminer
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