The bidding war for Bitcoin mining machines has heated up again, and this phenomenon has set off quite a stir in the digital currency market. As the price of Bitcoin continues to rise, mining machines have become the focus of many investors. In this fierce competition, who can seize the opportunity and who will return empty-handed? This article will explore the background, current situation and future trends of the bidding war for Bitcoin mining machines in depth, revealing the wonderful details of this eye-catching digital currency field.

In the digital currency market, Bitcoin has always been one of the focuses of attention. As the earliest cryptocurrency, Bitcoin has always attracted the attention of investors with its scarcity and value reserve attributes. The mining process of Bitcoin is inseparable from the important tool of mining machines. With the rise in the price of Bitcoin, more and more investors have begun to pay attention to the purchase and use of mining machines, hoping to obtain more Bitcoin through mining, so as to share the dividends of the digital currency market.

The bidding war for Bitcoin mining machines has heated up again, mainly due to the continuous rise in the price of Bitcoin. Recently, the price of Bitcoin has soared all the way, setting a record high. This good news has made more investors optimistic about the development prospects of the digital currency market, and has also greatly increased the demand for mining machines. Major mining machine manufacturers have increased their production capacity investment and launched new mining machines to meet market demand. In this case, the shortage of mining machines has led to the escalation of the intensity of the bidding war.

As the bidding war for Bitcoin mining machines heats up, many investors have begun to increase their investment in mining machines. They hope to improve mining efficiency by holding more mining machines, thereby obtaining more Bitcoin rewards. On the other hand, in order to seize market share, mining machine manufacturers are also constantly developing and updating higher-performance mining machine products to meet the needs of investors. This change in supply and demand has made the competition in the Bitcoin mining machine market increasingly fierce, and has also promoted the continuous innovation and progress of mining machine technology.

In the bidding war for Bitcoin mining machines, in addition to mining machine manufacturers and investors, mining farms also play a vital role. As a place where mining machines are operated, the stability and safety of mining farms directly affect mining efficiency and revenue. Therefore, more and more investors have begun to pay attention to the selection and management of mining farms, hoping to improve mining efficiency and obtain more Bitcoin rewards by optimizing the layout and operation of mining farms. In this case, the quality and service level of mining farms have also become one of the important considerations for investors to choose mining machines.

In general, the bidding war for Bitcoin mining machines has heated up again, and this phenomenon has caused quite a stir in the digital currency market. As the price of Bitcoin continues to rise, mining machines have become the focus of many investors. In this fierce competition, mining machine manufacturers, investors, and mining farms are constantly working hard to seize the opportunity and obtain more Bitcoin rewards. In the future, as the digital currency market continues to develop, the bidding war for Bitcoin mining machines is bound to present more new changes and development trends. Let us wait and see, and witness this wonderful moment in the field of digital currency together.

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As Bitcoin breaks new highs above $20,000, the bidding war for top ASIC miners is heating up again. Despite Bitmain having raised prices by at least 20% since early December, large pre-orders for its flagship ASIC miners are still booked until early Q3 of next year.

The Beijing-based miner manufacturer recently updated the prices for the latest batch of available pre-order miners, which will not start shipping until at least June 2021. This suggests that the current delivery queue has been extended by two months.

Bitmain has increased the pre-order prices for the June batch by 20% compared to the April batch.

The pre-order prices for the Bitmain AntMiner S19 Pro and S19 are $3,095 and $2,276, respectively. Just a week ago, archived quotes for Bitmain's April/May batches seen by The
Block were $2,581 and $1,897, respectively.

The mining machine index tracked by crypto mining pool Luxor shows a similar trend. Prices for the most efficient and powerful mining models have risen by 25%, from $28 per TH/s in mid-November to $35 now.

Premium for January batches

Bitmain's main competitor, Shenzhen-based MicroBT, told The Block that it has not yet announced pre-orders for the next batch of its flagship WhatsMiners. But prices are expected to adjust to match Bitcoin's recent price increase.

As reported last month, pre-orders for the two leading manufacturers' mining machines through April 2021 have sold out following the surge in Bitcoin prices since November.

Notably, some buyers who pre-ordered Bitmain's January 2021 batches in September and October are posting offers to resell the soon-to-be-shipped mining machines at a price premium of up to 75% to 90%.

Quotes obtained by The Block from several Chinese bitcoin miner dealers show that the January batch of Antminer S19
Pro is priced at around $4,200, although the quantity is small. Similarly, the S19 is quoted between $3,250 and $3,500.

Archived information from Bitmain shows that the pre-order prices of the January batch of S19 Pro and S19 were $2,387 and $1,770 respectively three months ago.

Price list from a Chinese miner dealer on December 15

Nine-digit order

As The Block reported last month, institutional capital - especially from Western funds - has been one of the main drivers of bitcoin mining machine purchases in recent months.

In fact, Core Scientific, a US-based bitcoin miner, said on Thursday that "it has signed an agreement with Bitmain" to support its hosting customers to purchase more than 58,000 Antminer S19 and S19
Pro products. The delivery cycle will continue until September 2021.

Core Scientific did not disclose details such as the transaction price or the buyer. But the execution of the agreement suggests the parties may reach a price lock agreement to reduce costs below the market average.

Even assuming that Core Scientific purchases the miners at an average cost of $2,000 (less than the price of the S19 Pro when it launched in April), the purchase costs at least nine figures in U.S. dollar terms.

Core Scientific purchased 17,000 S19 and S19 Pro units from Bitmain in June, which were reportedly delivered in October.

In total, more than 75,000 S19 series miners - fully delivered and plugged in - will provide more than 7 EH/s of computing power to Core Scientific's hosting customers.

"Since our last acquisition agreement with Bitmain in June, Core Scientific has seen a surge in demand from new and existing customers, as well as a significant increase in institutional interest in digital asset mining in North America," Kevin Turner, Core Scientific's president and CEO, said in a press statement.

In July, Core Scientific said it was expanding the mining capacity it provides to U.S. investment firm Horizon Kinetics. Horizon Kinetics is understood to have $5.3 billion in assets under management as of June this year.

Core Scientific also recently signed an agreement with Digital Currency Group’s mining subsidiary, Foundry, to obtain a $23 million loan to finance its mining operations and meet customer needs.