Mining machine price market weekly report (2021.2.20-2021.2.26)

1. About the BTC hashrate market

Summary: The price of BTC rose this week, but the price of mining machines was relatively stable. However, the rate of return of holding BTC mining machines this week was higher than that of holding coins.

1. BTC price changes

As of February 26, the BTC price fell 17.12% from 2021.2.20 to 46276.87U, with a midpoint low of 44106.17U.

Chart citation: veryhash.com

2. Changes in BTC mining machine prices

As of February 26, the top three profitable BTC mining machines are still: S19, S19Pro, and M30S.

Chart citation: veryhash.com

The BTC price was in a downward range throughout this week. Due to the lag in the mining machine market, the price of mining machines remained basically unchanged compared with last week.

3. Mining income this week

4. Changes in S19 revenue in VeryHash this week

Chart citation: veryhash.com

The chart shows that the price of computing power in VeryHash is in a downward phase this week, down 6.67%.

From the 12.56% drop in BTC mining machine prices this week and this week's FPPS, it can be concluded that the profit of holding S19 mining machines this week is: 2.6%, while the coin price fell by 17.12% this week.

From this we can conclude that holding mining machines for mining this week is better than holding coins.

This week, the BTC price has dropped significantly compared to last week. From the above statistics, we can see that the daily gross income of each S19Pro, S19, and M30S is 221.13 yuan, 190.98 yuan, and 176.9 yuan respectively, and the corresponding payback period is 272 days, 280 days, and 291 days respectively. It can be concluded that although the price of the currency has fallen a lot now, the mining machine market has shown lag, and now due to the large price fluctuations, buyers and sellers are now cautious, and the trading volume in the market is very small. They are waiting for the currency price to make a trend decision in the later stage before adjusting the price.

2. About the ETH hashrate market

Summary: This week, the price of ETH has dropped significantly compared to last week, but the price of mining machines has not fallen accordingly. The profit of holding ETH mining machines this week is higher than holding coins.

As of February 26, the top three ETH mining machines in terms of profitability are: Wolf God B3, Innosilicon A10Pro, and Ethereum Bull Z7. Since the market share of Ethereum Bull Z7 is relatively small and there is not much supply on the market, its reference value is ignored.

The price of ETH mining machines did not fluctuate with the fluctuation of ETH prices, and the price remained stable like BTC mining machines. As can be seen from the figure, the price of ETH fell by 24.46% this week, and the daily gross income of each Wolf God B3 and Innosilicon A10Pro was 292.27 yuan and 400.93 yuan respectively.

Chart citation: veryhash.com

Chart citation: veryhash.com

From the fact that the price of ETH mining machines remained basically unchanged this week and the mining income this week, it can be concluded that the profit rate of holding an A10Pro mining machine this week is: 3.52%, while the coin price fell by 24.46% this week.

From this we can conclude that holding mining machines for mining this week is better than holding coins.

Now the price of ETH has fallen a lot, but due to the lag of the mining machine market and a series of events such as the majority of miners in the ETH network opposing EIP-1559, the uncertainty of ETH mining and prices has increased, so the market is more cautious now, so there is basically no trading volume. Everyone is waiting for the Ethereum 2.0 network to be confirmed and the price trend to be determined before re-conducting large-scale mining machine transactions.

In summary, it can be concluded that during the decline in coin prices last week, the price of mining machines had a certain lag compared to the coin prices, so the price fluctuations of mining machines were smaller during this period. And because mining machines produce coins every day, the rate of return of holding mining machines is greater than simply holding coins.