After the SEC filed a lawsuit against Ripple, the statement made by the Trump administration last night about the stable coins caused altcoins to fall sharply, while the largest crypto currency Bitcoin remains intact. This stance of the BTC price, which is still at the highest levels of the last years, has brought the devices that had to be withdrawn from the market last year, at twice the price!
The increase in the price of Bitcoin above $ 20,000, especially after the halving of the prize, allowed the miners to breathe and even profit. Antminer S9 devices, which were used last year, gained value again, with BTC floating around $ 23,000. Miners started to use and rent S9 devices themselves, which they had stored in their warehouses.
2 million S9 devices unplugged
As a result of the big drop caused by the coronavirus pandemic last season, the price of Bitcoin fell below $ 4,000 and there were very difficult times for miners. However, these Antminer S9 devices, which were taken to the warehouses, gained value again with the Bitcoin price breaking new records.
Second hands are worth more than 2 times.
According to the news in the Chinese media; The second-hand Antminer S9 devices sold for 110 yuan (about $ 17) just 20 days ago are now 250 yuan (about $ 39). According to the data obtained from mining pools, the net daily return of an S9 device is 4.2 yuan. This means that even if the price of the device doubles and reaches 250 yuan, it takes about 2 months for a miner to extract the cost of the machine.
Therefore, with the increase in the price of Bitcoin, the miners both evaluate their mining devices and earn money from them and continue their mining operations and earn separately from here.