5 ms·
I think the reasons are as follows: 1) The supply of the miners are usually delayed by a month or two in some cases. So people buying miners when bitcoin was 1
by nobrains 8y ago
I think the reasons are as follows:
1) The supply of the miners are usually delayed by a month or two in some cases. So people buying miners when bitcoin was 18,000 to 12,000 in Jan, would be receiving their miners in March or later.
2) Prices of miners have fallen because of the price of bitcoin. You can buy an s9 miner for just USD 600 right now (https://shop.bitmain.com/product/detail?pid=000201806281743005275bf20LAJ062E https://shop.bitmain.com/product/detail?pid=0002018062817430...) which might have resulted in people increasing their investment in miners, increasing the hashrate.