January 21, 2020, 10:44AM EST
• 5 min read

Are bitcoin miners pricing in the effects of the block reward halving?

Quick Take

  • On the secondary market, prices of Antminer S9’s have gone down considerably since July, according to data from mining equipment broker Kaboomracks
  • Pricing trends have typically followed that of the daily mining revenue per Th/s (a profitability metric that combines total bitcoin mining revenue and the network hashrate)
  • However, the pattern has diverged over the past few months as S9 prices continue to fall despite daily mining revenue per Th/s holding relatively steady
  • This could possibly be suggesting that miners are pricing in lower expected profitability come the halving.

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