Should Miners Turn Off BTC ASICs When the Price is Low?

Recently, miners have experienced a historic moment of ups and downs. Not only BTC miners but also almost all PoW miners and all cryptocurrency players have encountered this dark descent, with the prices of all cryptocurrencies plummeting dramatically. The fear and greed index of the cryptocurrency market shows that market sentiment is extremely panicked. However, looking at the entire cryptocurrency world, miners are the least panicked group. Data does not lie, we see that even when the price of the coin keeps falling, threatening the break-even point of the mining machine, the total computing power of the BTC network hashrate still remains around 640E. When speculators are panicking and selling off the coins, miners persist in mining, even if this persistence may result in losing electricity costs.

Why do so many miners choose to mine at a loss? Tokens based on PoW, especially BTC, are different from meme coins, which are entertainment-oriented and depend on public opinion to determine whether the price goes up or down. If you buy meme coins when the price is rising, you may be greeted with a higher price. If you buy meme coins when the price is falling, what you may face is the possibility of the price becoming zero.

BTC is the creator of the cryptocurrency world. As long as this world exists, it will not return to zero or be delisted. Therefore, when the price of BTC rises, miners’ profits are higher. When the price of BTC falls, it is actually a good time to quickly get more coins. When other types of investors are panicked, miners do not have to worry too much about the rise and fall of the price, and hold the coins we produce steadily in our hands, they are the greatest sense of security.

If you also firmly believe in Bitcoin mining, you must learn about this machine—the ANTMINER S21 XP HYD 473T. This is currently the BTC ASIC with the highest hash rate and the lowest power efficiency ratio. When the electricity cost is 6 cents, its theoretical shutdown coin price is as low as $24,000(not include GAS fee). If you are optimizing your mining plan, please contact us as soon as possible. We sell various ASICs for cryptocurrencies based on the PoW mechanism, which can help you through both bull and bear markets! To lay out a better future!

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!