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This means that miners in these areas operate with a 1500% profit after buying hardware equipment (1500% is computed with current price of 1btc=$16000 and the b
by jknz 9y ago
This means that miners in these areas operate with a 1500% profit after buying hardware equipment (1500% is computed with current price of 1btc=$16000 and the break-even point at 1btc=$1k). So are they scaling up and buying more hardware as fast as they can?
- cwkoss 9y agoYep, the best ASIC Bitcoin mining hardware is almost always sold out... at least until a new better ASIC comes out.
- gcb0 9y agoand the grapevine says that they are mostly refurbs from actual mining operations that already have a new unpublicized version running.
- oh_sigh 9y agoRight...why would this middleman sell them? Use them for your own operations!
- Cthulhu_ 9y agoThey've earned the investment back many times over and the newer devices are 2-4x as efficient, probably?
- cwkoss 9y agoThere have been several instances where the manufacturer mines with each manufactured device for a few months "for quality assurance purposes" (enriching themselves at lower difficulty levels, and then shipping after they've pushed difficulty up).
- chisleu 9y agoThe large mining operations all own factories that build the ASICs.
- fyi1183 9y agoTo put it mildly, that seems pretty unlikely given the ridiculous amount of know-how and capital investment required for chip manufacturing.
- wwweston 9y agoMight not be that would-be miners are acquiring that know-how, might be that people with the know-how tend to get into mining.
- user5994461 9y agoHe's probably talking about the ASIC design, not the manufacturing.