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Monday Mining Metrics: Hashrate Seasonality
Bitcoin Mining Update - 8/14/2023
Summer 2023: Flat Difficulty Growth
Difficulty has stagnated throughout the past couple of months. “Hash ribbons”, which juxtaposes the 30 and 60-day moving averages of hashrate, has even indicated a slight miner capitulation.
This is most likely due to heat-induced curtailment.
It’s reasonable to expect seasonality in the total network hashrate. Just as miners have curtailed power usage during the peak of summer, they most likely will curtail operations during the coldest months of winter as well.
Below is the current spread between bids and asks as of 8/14/2023.
For each ASIC model the spread is tighter compared to last week.
Spot ASIC Pricing
Below are the lowest current listing prices (asks) on the Blockware Marketplace for a variety of popular ASIC models, including the week-over-week change:
Antminer S19j Pro (+0%)
$1,500 (0.0529 BTC)
$15.6 / T
Antminer S19j Pro+ (+0%)
$2,629 (0.0927 BTC)
$21.9 / T
Antminer S19 XP (+0%)
$4,464 (0.1575 BTC)
$31.6 / T
Whatsminer M30s++ (+0%)
$1,375 (0.0485 BTC)
$13.5 / T
Whatsminer M50 (+0%)
$2,880 (0.1016 BTC)
$24 / T
The chart below compares the final sales price for the past two weeks, for each model.
Most notable is the Antminer S19 XP selling for $4,500 compared to $4,900 the week prior.
Bulk ASIC Pricing
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All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.