BITMAIN Signed Purchase Order With CTCAP To Cuts Mining Rig Prices

BITMAIN stated on Sept. 21 that it is cutting the price of one of its most recent mining rig models, the S19 Pro, to $19 per terahash (TH), 41% lower than the price index published on the mining rig statistics website Hashrate Index.

BITMAIN, the world’s top producer of cryptocurrency mining servers under the ANTMINER brand, today announced a signed purchase order with CTCAP Group (CTCAP), a European firm that invests in, produces, and runs renewable energy projects. CTCAP’s computational hashrate output will be doubled thanks to a new hydro cooled mining plant in Iceland.

According to Arcane Research research, the price of Bitcoin has declined by more than 60% so far in 2022, and Bitcoin miners currently earn the lowest amount since November 2020, US$17.9 million per day.

As nations impose sanctions on Russia in response to its invasion of Ukraine, Russia’s energy supply has decreased, raising global energy prices and exacerbating the predicament of miners who rely largely on power.

The price index for the best Bitcoin mining models fell by more than 67%, going from $101/TH at the start of 2020 to $32.71/TH on September 22.

Nonetheless, the hashrate on the Bitcoin network reached an all-time high in September, indicating that mining competition has reached unprecedented levels

At the time of writing, BTC is trading at $19,176.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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