Fun

China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out

News Feed - 2021-02-27 07:02:33

China"s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out


A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out. Bitcoin Mining Rig Manufacturers Experience a Device Demand Boom


Bitcoin (BTC) prices in February have spiked considerably in value and this has fueled the BTC mining sector a great deal. On Friday, the Bitcoin network hashrate is hovering above the 150 exahash (EH/s) range and there are 21 pools directing hashrate at the blockchain.


On Sunday, February 21, 2021, BTC prices touched an all-time high (ATH) at $58,354 per unit but the price has since dropped in value since then. The price per BTC has been hovering around the $47k handle at the time of publication on Friday afternoon (EST).


On Thursday, a regional report from China details that Chinese mining device manufacturing businesses are seeing lots of demand for products. China’s Global Times contributor Yin Yeping highlights that mining machine makers [are] seeing a surge in demand.”


The report notes that Shanghai Securities News revealed that Canaan Creative shares jumped 318% this year. Moreover, the company Ebang and Ebon International shares were up 82%. Advance-Orders and Sold Out Stock


Yeping’s report also says that Canaan has revealed it has seen a “jump in orders since last year.” Central Asia and North America were the two regions with the most demand for mining devices, Canaan detailed.


On Tuesday, Canaan told the regional publication that it has contracted advance orders from both Core Scientific and Hive Blockchain. Canaan will supply 6,400 ASIC mining machines to Hive and 6,000 mining rigs to Core Scientific.


According to Canaan, 100,000 units have been pre-ordered by customers from North America this year and the firm claims to have seen advance payments of up to $200 million. Yeping also highlights that Bitmain is completely sold out and “new products are not available yet.”


Bitmain’s website shows the company’s latest machines but the devices are indeed sold out and the website’s new orders display says “to be determined (TBD)” Microbt’s Whatsminer products are also sold out as well.


The company Innosilicon’s ASIC mining rigs are completely sold out and Ebang’s web portal says customers need to make an inquiry about orders. Ebang’s site also notes that shipments are “3-3.5 months after payment.”


The lack of ASIC availability directly from the sources has made bitcoin mining rig second market prices skyrocket. For instance, a Microbt-made Whatsminer M20S 68TH/s located in the U.S. on Ebay is selling for $5,000. Machines with 11-13TH/s are selling for $250-$800 per unit on Ebay.


What do you think about the surge in demand for bitcoin mining machines? Let us know what you think about this subject in the comments section below. South Korean PC Gaming Rooms Rely on Crypto Mining to Profit During the Coronavirus Pandemic MINING | 2 days ago Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO MINING | 3 days ago Tags in this story Advance Orders, Bitcoin mining, Bitmain, BTC Mining, Canaan, Ebang, machines, Manufacturers, Microbt, mining, Mining BTC, mining rigs, Second Markets, shares, Sold Out, Whatsminer


Image Credits: Shutterstock, Pixabay, Wiki Commons Use Bitcoin and Bitcoin Cash to play online casino games here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American
$2 Trillion for Surveillance Capitalism - US Government Promises $1,200 to Every American On Wednesday, U.S. Congressional leaders had seemingly come up with a stimulus deal at a
William Suberg37 minutes agoUS gov’t shutdown looms — 5 things to know in Bitcoin this weekBitcoin starts the week with a trip to $26,000 — can BTC price strength overcome sellers and a weekly “death cross?”45
Wird XRP von Ripple der große Gewinner unter Donald Trump?
Kaum eine Kryptowährung stand in den vergangenen Jahren derart unter Beschuss vonseiten der amerikanischen Regierungsbehörden wie Ripple. Dessen Coin XRP sei ein Wertpapier und daher von Beginn an genehmigungspflichtig
Uber’s Latest Awful Idea Delivers Personal Loans to Drivers
Uber may be considering a small personal loan product for its drivers. That might be a good idea for Uber, but is terrible for drivers. | Source: ShutterstockUber may be considering
Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95%
Meme Tokens Slide 55% in 5 Months — DOGE, SHIB Dominate $14.9B Meme Coin Economy by 95% Five months ago, the top meme cryptocurrencies by market valuation were valued at $33.7 bi
Tesla’s Q4 Balance Sheet Shows Bitcoin Holdings Worth $184 Million
Tesla"s Q4 Balance Sheet Shows Bitcoin Holdings Worth $184 Million Tesla’s latest balance sheet shows the company’s bitcoin holdings worth $184 million. Tesla did not
Yoshitaka Amano, One of the World’s Greatest Illustrator, Character Designer, Joins Gensokishi Online Project
Yoshitaka Amano, One of the World"s Greatest Illustrator, Character Designer, Joins Gensokishi Online Project press release PRESS RELEASE. GensoKishi Online, the GameFi and metavers
Prosecutor General’s Office Wants to See ‘Cryptocurrency’ in Russian Law
Prosecutor General’s Office Wants to See ‘Cryptocurrency’ in Russian Law The Prosecutor General’s Office of the Russian Federation has insisted that the term “c
Biggest Movers: UNI Drops to 1-Week Low, While FIL Extends Recent Declines
Biggest Movers: UNI Drops to 1-Week Low, While FIL Extends Recent Declines Uniswap moved to a one-week low on Tuesday, as crypto markets were mostly in the red during today’
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption sponsored Investing has become mandatory for those who want to secure their financ
TON Network TVL surpasses $760M — Is this bullish for TON price?
Marcel Pechman8 hours agoTON Network TVL surpasses $760M — Is this bullish for TON price?Investors’ excitement over airdrops and other incentives fueled TON Network’s TVL, but how sustainable is this strategy?1466
Ripple Lawsuit Could Invoke Billions in Losses to ‘Innocent Third-Parties,’ Says Former SEC Commissioner
Ripple Lawsuit Could Invoke Billions in Losses to "Innocent Third-Parties," Says Former SEC Commissioner The crypto community is extremely curious about what wil