The Prices of Bitcoin Mining Rigs are Rising as Equipment Demand Continues to Soar Higher
If you are looking to get a Bitcoin miner in China, well the sad thing is it is becoming very difficult.
The official sites you have been used to looking are actually out of stock, and if you are thinking of getting the second-hand mining machines well this is valuable now. Before they would get sold like scrap, but as of now, they have become very expensive to purchase. And the equipment prices should continue to go up, this is according to the Chinese media.
There Is An Increased Activity Being Witnessed
With the increased activity being witnessed is clear evidence in the current surge that is being experienced in the Bitcoin network computing power. One that was able to reach the very new high of 65EH/s. And it has been predicted that these values will go up as high as 100 EH/s by the end of this year.
The miners in China tend to supply about 60% of the Bitcoin miners, but for some, this value could be a little more than is being reported. China has abundant reserves of hydroelectric energy; thus they are able to enjoy the mining power.
However, the miners within are still relying on the availability of quality equipment, which has been found to depend on the market forces something that is beyond their control.
The rigs are in short supply but according to Kristy-Leigh Minehan it should not affect the supply of Bitcoin, or even go ahead and make the systems to run much slower, but we should hope to see all this averaging out very soon.
“The effect of rigs being in short supply means that new entrants that come into the market will not be able to participate.”
Yang Zuxing, who is the founder of the equipment manufacturer the Shenma Mining Machinery, went on to say that the problem of scarcity being experienced in the market is due to the insufficient production capacity.
Old Is Better Than None
It is clear having the old equipment in the market is better than having none at all. With the scarcity being witnessed it is clear old is better than none and the difficulty being witnessed seems to have reached its peak, when we look at the recent price surge we witnessed.
What we are saying, the current competition that we see with the block rewards that happens between the miners has never been seen to be this high.
The only solution to this is having is powerful energy-efficient equipment will be able to solve the difficulty in calculations that are taking place in the market, thus solve the issue inadequately wining the block rewards.