Bitcoin plummets again, some S19 models have shut down, should we keep mining?

In the last week of June 2024, bitcoin once again broke downward through $60,000, only on the day of June 24th, the coin price fell by $5,000 to $58,400, which disappointed many bitcoin holders, after all, the price of the coin since June, the vast majority of the time has been in a slow and sustained decline, but many critics and coin holders insisted that this decline is a kind of technical downturn, and wait for the end of the downturn However, many commentators and holders insist that this decline is a technical downward adjustment, and when the downward adjustment is over, it will be a big bull market, but what people are waiting for is a lower and lower coin price day by day. As of now, some mainstream miner models have already touched the shutdown coin price at regular electricity costs, including the classic ANTMINER S19 95T and ANTMINER T19 84T. Data from ViaBTC’s official website shows that bitcoin’s network-wide arithmetic power currently stands at 580E, down roughly 100E from this year’s peak.

Bitcoin’s continued downward trend is inevitably frustrating, and some coin holders have mocked themselves by saying that “looking at the price curve of bitcoin, it’s like seeing a hunched old man with a cane, and I don’t know if I should support him further”. However, in contrast to this downward trend in the price of the currency, there is a constant stream of good news coming from national policies and social groups. The two presidential candidates under the U.S. election have gradually changed their support for Bitcoin from implicit to explicit, and even Donald Trump has been dubbed the “Bitcoin President”. On the financial side, following the launch of Bitcoin ETFs in the US and Hong Kong, Thailand and Australia have also listed Bitcoin ETFs in June 2024, and just a few days ago, the Industrial and Commercial Bank of China (ICBC), which has always been very mean to Bitcoin, highly praised Bitcoin as digital gold. Warren Buffett, who has publicly abused Bitcoin as “rat poison,” has also been disclosed several times to the outside world that he has been quietly investing in Bitcoin in recent years.

By passing on this information, BITMARS would like to remind everyone that in the face of the rights and wrongs of Bitcoin, although it may be difficult for us, as individuals, to make accurate judgments, we have seen that the governments of large countries like the United States and China are also exploring the initiative of embracing Bitcoin, and that tycoons like Warren Buffett are investing in Bitcoin, so perhaps these macro phenomena can provide some reference for us to make our own personal judgments. The night is indeed frightening and boring, and the dawn is indeed something to aspire to chase. But to go through the dark night, which will last for an unknown period of time, requires people to come up with a steady stream of courage and determination, and whether or not to insist on going on, you need to make up your own mind.

Finally, BITMARS for miners friends to recommend a few of the hottest low energy-efficiency ratio BTC ASIC, no matter how the price of the coin fluctuation, they can provide you with a positive profit, give you a full sense of security.

1, ANTMINER S21 XP HYD, arithmetic power of 473T, energy efficiency ratio of 12J/T, water-cooling device. Electricity costs 6 cents an hour, and the shutdown coin price is about $22,000 USD.

2, ANTMINER S21 PRO, arithmetic power of 234T, energy efficiency ratio of 15J/T. Electricity cost 6 cents per hour, shutdown coin price about $27,000 USD.

3, ANTMINER S21 XP, arithmetic power of 270T, energy efficiency ratio of 13.5J/T. Electricity cost 6 cents when shutdown coins cost about $26,000.

4, ANTMINER S21 HYD, with 335T of power and 16J/T. At 6 cents electricity, the shutdown coins cost about $30,000 USD.

All the above models are supported for purchase/pre-order. Miners are welcome to contact us for more.

Finally, BITMARS would like to remind everyone that all investments carry risks, so decisions should be made cautiously.

BITMARS is an internationally renowned crypto miner trading company. We provide comprehensive, professional, timely, and cost-effective miner purchasing and hosting services to maximize your wealth!