The latest Bitmain unit, which sold out in seconds, demonstrates that demand for Bitcoin mining hardware remains high.
Bitmain, a Bitcoin mining hardware manufacturer, announced on December 21 that its latest HNS HS3 unit had sold out in 27 seconds.
The Antminer was priced at $2,092 per unit, which is quite reasonable given the price collapse of mining hardware this year. The HNS Blake2B+SHA3 air-cooling miners went on sale on December 20 and were quickly sold out. According to the Bitmain website, only five units were available per customer.
It has a hash rate of 9 TH/s (terahashes per second) and a power consumption of 2,079 watts. This translates to 231 joules per terahash of energy.
Bitmain, a Chinese mining company, remains the market leader in Bitcoin mining hardware. The Antminer S19 XP is the company’s only available flagship model, with a hash rate of 134 TH/s and only 21.5 joules per terahash. However, it costs three times as much, at $6,164 per unit.
According to the company website, its 100 TH/s S19 Pro Antminer had also sold out. The Bitmain Antminer S19 XP Hydro, with hash rates exceeding 200 TH/s, was also not available.
According to Hashrate Index, the ASIC price index fell along with Bitcoin prices in 2022. Furthermore, the drops were steeper with higher power efficiency miners. The ASIC Price Index reflects the current price per terahash of various BTC mining devices, which are classified into three efficiency tiers.
Mining profitability has plummeted this year as Bitcoin miners have been hit by a triple whammy. Most of them have been hammered by high hash rates and difficulty, low Bitcoin prices, and rising energy costs.
As a result, the hash price, or mining profitability, has fallen by 75% since the start of the year. According to Hashrate Index, the metric, which measures the expected value of 1 TH/s of hashing power per day, is currently close to its lowest level at $0.061 TH/s/day.
From its all-time high in early November, the network hash rate has dropped 11% to 243 TH/s today. However, it is still too high for many miners to make a profit.
Furthermore, industry experts have dispelled fears of another Bitcoin miner selloff. Even if miners sold 300% of their daily output of 2,700 BTC, “it would not amount to more than 0.6% of Bitcoin’s spot volume,” according to Jaran Mellerud.
