In recent months, various reports have indicated that Bitmain has been making significant adjustments to the prices of its Bitcoin ASIC models. This strategic move is likely a response to the prevalent trends of dwindling mining revenue and the surplus of inventory in the market.

Notably, these price reductions place several premium units at almost wholesale levels, making it more appealing for miners with average electricity costs to consider upgrades. The adjustments are crucial as they help align the price structure with the current market conditions.

The pivotal halving event in April 2024 effectively halved the Bitcoin block reward to 3.125 BTC. As a result, mining enterprises are increasingly focusing on renewable energy sources to mitigate their overheads.

Typically, surges in BTC prices cushion against the impact of reduced subsidies; however, 2025 has shown an unexpected downturn. After reaching a peak over $126,000 in October, Bitcoin’s value took a nosedive to around $80,000 by November, surprising market analysts.

New ASIC Models and Cost Analysis

Current dealer price lists indicate that models like the S19e XP Hydro and the 3U S19 XP Hydro are being aggressively marketed for close to $3 per TH/s during promotional cycles.

Meanwhile, S19 XP+ Hydro units are positioned at around $4 per TH/s, according to market analytics. In contrast, older models, including the S21 Immersion and S21+ Hydro, are generally offered between $7 and $8 per TH/s, with some auctioned units beginning at approximately $5.5 per TH/s for S19k Pro types.

Challenges in Mining Profitability

The revenue per unit of hashpower has significantly decreased, reaching lows not observed for years, as reported by market observers. This situation has necessitated many miners to rethink expansion strategies and investigate alternative options for lower pricing on equipment and hosting services.

The recent pricing changes from Bitmain seem to be aimed at rapidly clearing existing inventory rather than enhancing profit margins. Several miners have noted that these price reductions have rendered previously unfeasible deployments attractive again—on the condition that power expenses remain manageable and Bitcoin values improve.

Market Dynamics and Resale Trends

The market for secondhand equipment reacted promptly, with secondary sellers reducing prices to stay competitive with new factory rates. This response resulted in a wave of bidding activity and a higher volume of transactions in the marketplace.

Auction formats and bulk selling avenues are emerging in the public domain, which analysts interpret as efforts by manufacturers to minimize backlogs without widespread price slashes across all platforms.

Smaller mining entities expressed optimism in the current landscape, while larger firms are carefully monitoring the situation to determine whether they should invest in new machinery or postpone purchases.

Industry Trends and Competitive Landscape

Reports illustrate that the sluggish demand is not confined to a solitary manufacturer; competitors are also adapting their offerings in reaction to market needs, resulting in an increase in the availability of secondhand equipment.

This has led to a quicker replacement cycle for advanced miners and prompted the scrapping or reselling of outdated rigs.

Metrics related to hashprice, reflecting earnings per TH/s, have reached levels not seen in years. This trend leaves minimal room for recovery unless Bitcoin values increase or power costs diminish.

In the short term, cost-effective new units may alleviate financial stress for certain operators capable of utilizing favorable energy rates. Long-term forecasts suggest potential consolidation in the market as underfinanced miners may withdraw from operations.

Featured image from Pexels, chart from TradingView