Bitcoin price raises mining equipment costs by 30%

The recent rise in Bitcoin prices has sent mining equipment costs soaring, with Shenzhen’s Huaqiangbei District – a global hub for cryptocurrency hardware – seeing a notable 30% price rise.

According to a report by L Wen Wei PoThe price of the Antminer S21 335T mining rig reached US$5,600, or about 40,700 Chinese yuan, up 30% compared to last year’s price of US$3,836.19, which amounts to 28,000 Chinese yuan. There is a much higher demand for the Antminer S21 Website.

Huaqiangbei dealers reported a spike in bulk orders, with buyers from Russia, the United States and Canada purchasing hundreds or thousands of units. This order is driven by Bitcoin (Bitcoin) Rising prices, which has made the mining business more profitable even as equipment costs have ballooned.

Hong Kong has become an important export center

2021 ban Cryptocurrency mining in China has led to the rerouting of mining machine transactions through Hong Kong due to Hong Kong’s free trade environment and ease of logistics. Traders in Shenzhen said most of the new mining equipment is exported via Hong Kong, taking advantage of its status as a way station for international trade. Across borders Logistics can deliver mining machines to Hong Kong on the same day, and then the machines are sent to domestic and foreign air and sea transportation.

In the range of $100,000 to $108,000, Bitcoin mining difficulty has reached an all-time high. The mining difficulty adjustment at block height 874,944, around 1:33 UTC on December 16, rose 4.43% and reached an all-time high of 108.52 trillion, according to TheMinerMag.

According to data from Hashrate indicatorThe average hash rate of the network in the last 14 days was 771 EH/s while the seven-day moving average was above 800 EH/s. The record hash difficulty and decrease in hash price reflect the overall impact of the BTC price increase on mining economics. It confirms alleged hardware shortages and rising prices and also provides insight into global competition among miners. Although mining-related activities are expressly prohibited in any way by mainland China, the legal framework in China Hong Kong It allows the sale and export of mining hardware, giving traders an outlet to meet this global demand.