{"id":473189,"date":"2022-07-12T16:05:18","date_gmt":"2022-07-12T13:05:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-miner-prices-will-continue-to-fall-f2pool-exec-predicts\/"},"modified":"2022-07-12T16:05:18","modified_gmt":"2022-07-12T13:05:18","slug":"bitcoin-miner-prices-will-continue-to-fall-f2pool-exec-predicts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-miner-prices-will-continue-to-fall-f2pool-exec-predicts\/","title":{"rendered":"# Bitcoin miner prices will continue to fall, F2Pool exec predicts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f2f45bf986\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f2f45bf986\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-miner-prices-will-continue-to-fall-f2pool-exec-predicts\/#%E2%80%9D_Bitcoin_miner_prices_will_continue_to_fall_F2Pool_exec_predicts_%E2%80%9C\" >&#8221; Bitcoin miner prices will continue to fall, F2Pool exec predicts &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_miner_prices_will_continue_to_fall_F2Pool_exec_predicts_%E2%80%9C\"><\/span>&#8221; Bitcoin miner prices will continue to fall, F2Pool exec predicts &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOGNiZDBlNjQtNmNkNi00ZWJkLWIxMjEtMzY0MWE4NjEzNjhiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>\n<div>The price of cryptocurrency mining hardware is likely to continue falling in the near future amid the ongoing crypto winter, according to an executive at major Bitcoin (BTC) mining pool F2Pool.\u00a0<\/p>\n<p>F2Pool, one of the world\u2019s biggest Bitcoin mining pools that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/btc.com\/stats\/pool\">supports<\/a> 14.3% of the BTC network,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/f2pool_official\/status\/1546709929809289217?s=20&amp;t=WAFbnmIojI96gVuuvtPG4g\">released<\/a> its latest mining industry update on Tuesday.<\/p>\n<p>Focusing on June 2022 BTC mining results, F2Pool\u2019s report noted that the majority of Bitcoin mining companies like Core Scientific have opted to sell their self-mined bitcoins recently.<\/p>\n<p>Bitfarms, a major Canadian BTC mining firm, sold 3,000 Bitcoin, or almost 50% of its entire BTC stake for $62 million in order to reduce its credit facility in June.<\/p>\n<p>\u201cI have studied almost 10 publicly traded industrial miners and found that they are all very honestly telling everyone that they are selling self-mined Bitcoins,\u201d F2Pool\u2019s director of global business development Lisa Liu wrote in the report. She added that the proceeds are used to fund operating expenses and to grow capital, as well as to reduce obligations under equipment and facility loan agreements.<\/p>\n<p>Liu went on to say that only a few publicly traded industrial miners claimed that they would stick with their long-standing HODL strategy. Those included firms like Marathon, Hut 8 and Hive Blockchain Technologies. \u201cIn particular, Hive surprisingly does not have significant debt, nor does it have equipment financing for ASIC and GPU equipment,\u201d she added.<\/p>\n<p>The executive also mentioned that the price of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication-specific integrated circuit (ASIC) miners has dropped sharply over the past several months. By early June, the price of top and mid-tier ASIC miners reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/docs.google.com\/document\/d\/1wTUykSH3u8KMqHbXlzJAPZMFT3JaAiyGbi-VME3eJjc\/edit#:~:text=Bitcoin%20miners%20sell%20their%20hodlings%2C%20and%20ASIC%20prices%20keep%20dropping%20%E2%80%94%20What%27s%20next%20for%20the%20industry%3F\">plummeted 70% from their all-time highs<\/a> in the $10,000\u2013$18,000 range.<\/p>\n<p>At the time of writing, Bitmain&#8217;s flagship miner Antminer S19 Pro is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.amazon.com\/s?k=Bitmain+Antminer+S19+Pro&amp;ref=nb_sb_noss\">selling<\/a> on Amazon in the $4,000\u2013$7,000 range for used devices. A brand new device apparently still sells for more than $11,000.<\/p>\n<p>ASIC prices will continue to fall even further, which could trigger a lot of new miners to exit mining, Liu predicted, stating:<\/p>\n<blockquote><p>\u201cI think ASIC prices will continue to fall although they have already dropped rapidly since reaching the peak. If equipment owners cannot secure power and capacity at a competitive price level, a lot of newbies who hopped on the hash train last year are likely to be thrown off.\u201d<\/p><\/blockquote>\n<p>Liu stressed that such a situation would be the \u201cworst-case scenario\u201d as F2Pool wishes to see \u201cevery miner go through this cold winter.\u201d<\/p>\n<p><strong><em>Related:\u00a0Crypto miners in Texas shut down operations as state experiences extreme heat wave<\/em><\/strong><\/p>\n<p>As of mid-July,\u00a0Bitcoin mining revenue dropped nearly 80% over a period of 9 months, after reaching an all-time high of $74.4 million on October 2021. The sharp decline triggered a massive drop in the price of graphics processing units, which finally became more affordable after the global pandemic-caused chip shortage.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-miner-prices-will-continue-to-fall-f2pool-exec-predicts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin miner prices will continue to fall, F2Pool exec predicts &#8220; The price of cryptocurrency mining hardware is likely to continue falling in the near future amid the ongoing crypto winter, according to an executive at major Bitcoin (BTC) mining pool F2Pool.\u00a0 F2Pool, one of the world\u2019s biggest Bitcoin mining pools that supports 14.3%&#8230;<\/p>\n","protected":false},"author":1,"featured_media":473190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOGNiZDBlNjQtNmNkNi00ZWJkLWIxMjEtMzY0MWE4NjEzNjhiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,74863,80946,75042,117,52711],"class_list":["post-473189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-cryptocurrencies","tag-f2pool","tag-mining","tag-business","tag-hardware"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/473189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=473189"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/473189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/473190"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=473189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=473189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=473189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}