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.
Are bitcoin miners pricing in the effects of the block reward halving? Declining prices of the Antminer S9’s may suggest that miners expect profitability to take a hit with the bitcoin per-block subsidy falling from 12.5 BTC to 6.25 BTC come May. We gathered the listing prices from Kaboomracks – one of a handful of mining […]

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