I just visited Huaqiangbei and found that both Ant and Shenma are out of stock.

(by Aberdini)

Since April, the continuous rebound of Bitcoin prices has caused ripples in the mining machine industry. The mining machine market, which was once frozen by the bear market last year, is now gradually heating up.

In the previous long bear market, mining farms even had to pay 10,000 yuan to mine one Bitcoin, which once greatly reduced the confidence of participating in mining. However, with the transition from bull to bear market, the dividends of the flood season and the upgrading of the entire industry's cognition, mining income has risen again.

A salesperson at a mining machine store in Huaqiangbei told Zone 45 that Ant and Shenma mining machines are now out of stock. Not only are the spot products out of stock, but futures have also been delayed.

Normally, Shenma's futures should have arrived, but in fact most of them are not available. Customers who were supposed to get futures in August could not get them as scheduled.

1

Payback period is less than 5 months

Shenzhen Huaqiangbei, China's No. 1 electronics street, is also one of the world's largest mining machine sales distribution centers. The shops here still display computers, but they actually do mining machine business.

"We buy as many mining machines as possible. The prices change every day. The Antminer S17 can be sold for around 21,000 yuan," said a salesperson from Tianyu Mining.

"Are there any new products?" When asked further, the salesperson told Zone 45 that the Antminer S9 and Shenma mining machines are currently out of stock, "and now neither Antminer nor Shenma can deliver the goods."

According to information on Bitmain’s official website, the Ant S9, S17 and T17 series mining machines have all been sold out.

Starting from May this year, Bitcoin started a new round of rise, breaking through the 6,000, 8,000 and 10,000 US dollar mark successively.

District 45 learned that compared with the total computing power of the Bitcoin network, a more intuitive indicator is the Bitcoin address. As of the end of June, it has reached 672,658, and the number of blockchain wallet users is 38,614,230.

Comparing a set of user survey data from 2017 and 2019, in 2019 more than half of people understood what Bitcoin is and believed that Bitcoin and blockchain are financial innovations.

"According to the current market conditions, mining pays back quickly. Coupled with low electricity prices during the flood season, the net profit of a mining machine can reach 50-80 yuan per day, and the payback period is less than 5 months." The salesperson said to District 45, "During this sharp rise in the market, mining machine manufacturers did not have time to prepare stocks, so many mining machines are out of stock."

2

The passenger flow has tripled

In a market situation where supply exceeds demand, mining machines have returned to a seller's market. As manufacturers have stopped supplying, mining machine repairers have also become beneficiaries of this round of market conditions.

According to a master at a repair shop in Huaqiangbei, the recent customer flow is 2-3 times that of a few months ago, and business is much busier than before.

"Now they don't ask about the price of repairs, they basically just ask when it can be repaired. I've been running this place for three years, and the price hasn't increased much. Repairing a mining machine motherboard costs 50-100 yuan, depending on the problem with the mining machine."

A miner also told District 45 that it used to cost about 30-40 yuan to repair a mining machine control panel, but now it costs 80-90 yuan due to the rise in the price of coins. Moreover, there is often only one repair point in a province.

Even so, miners are still flocking to it. It is currently the flood season in China, and the electricity cost is relatively lower. For example, if the electricity cost is within 0.3 yuan per kWh, miners can get good mining income regardless of whether they use new or second-hand mining machines.

Miners and financial institutions have a consensus that they are bullish on digital currencies. As the computing power of the entire network increases, the difficulty of mining increases, and miners have reached a critical moment to compete with mining equipment.