{"id":5075,"date":"2025-12-29T14:19:27","date_gmt":"2025-12-29T14:19:27","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=5075"},"modified":"2025-12-29T14:19:27","modified_gmt":"2025-12-29T14:19:27","slug":"bitmain-just-slashed-mining-rig-prices-proving-the-markets-oldest-bitcoin-rule-is-officially-dead","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=5075","title":{"rendered":"Bitmain just slashed mining rig prices, proving the market\u2019s oldest \u201cBitcoin rule\u201d is officially dead"},"content":{"rendered":"
<\/p>\n
\n
Bitmain cut prices on Bitcoin mining rigs on Dec. 23 after miner revenue per unit of hashrate fell in November.<\/p>\n
The discounts, which extend to current-generation hydro and immersion products, are landing in a cycle in which Bitcoin\u2019s price strength has not translated into the kind of mining-margin expansion that previously drove hardware scarcity and rapid markups.<\/p>\n
According to TheMinerMag, a container bundle for the S19 XP+ Hydro (about 19 J\/TH) comes in near $4\/TH, with shipping slated to begin in January 2026.<\/p>\n
The same report cites internal price lists showing quotes as low as $3\/TH for some S19 Hydro variants and around $7\u2013$8\/TH for newer S21 immersion or hydro models before coupons.<\/p>\n
Bitmain has paired some of those offers with hosting packages, with power rates cited around 5.5\u20137.0\u00a2\/kWh plus about a 0.3\u00a2 management fee across multiple geographies.<\/p>\n
\n
Bitcoin miner metrics<\/caption>\n
\n
\n
Metric<\/th>\n
Recent datapoint<\/th>\n<\/tr>\n<\/thead>\n
\n
\n
Bitmain promo price (bundle basis)<\/td>\n
~$4\/TH for S19 XP+ Hydro container bundle (Dec. 23 promo), ship from Jan. 2026<\/td>\n<\/tr>\n
\n
Quoted range in internal lists<\/td>\n
As low as ~$3\/TH (some S19 Hydro), ~$7\u2013$8\/TH (some S21 hydro\/immersion), before coupons<\/td>\n<\/tr>\n
Compressed hashprice is rewriting miner economics and ASIC demand<\/h2>\n
The price action reflects a basic constraint: miner demand clears on payback math when hashprice stays compressed.<\/p>\n
Luxor\u2019s November 2025 lookback puts USD hashprice at an average of $39.82\/PH\/day, with a print of $35.06 on Nov. 22.<\/p>\n
\n
<\/div>\n
Related Reading<\/span><\/p>\n
Bitcoin miners are bleeding at $90,000, but the \u201cdeath spiral\u201d math hits a hard ceiling<\/h3>\n
Stop panicking about infinite selling pressure, structural limits dictate exactly how many coins can actually hit the market before operations break.<\/p>\n
Dec 21, 2025<\/span> \u00b7<\/span> Andjela Radmilac<\/span><\/p>\n<\/div><\/div>\n
In the same monthly review, Luxor said transaction fees were a small share of rewards during the period, limiting relief for operators as network difficulty averaged about 153.33T.<\/p>\n
That combination changes buyer behavior in ways that blunt \u201cBTC up equals ASICs up.\u201d<\/p>\n
Hashprice is effectively revenue per unit of hashrate, and Luxor frames it as daily income per PH before costs.<\/p>\n
At $40\/PH\/day, gross revenue works out to about $0.040\/TH\/day because one PH equals 1,000 TH.<\/p>\n
A 200 TH\/s rig would gross about $8 per day at that level.<\/p>\n
If the machine runs around 19 J\/TH, power draw is roughly 3.8 kW (19 J\/TH times 200 TH\/s), or about 91.2 kWh per day.<\/p>\n
At $0.06\/kWh, a midpoint within the hosting price band cited by TheMinerMag, energy cost is about $5.47 per day.<\/p>\n
That leaves about $2.53 per day before facility fees, repairs, downtime, pool fees, and curtailment.<\/p>\n
At a hardware cost of $4\/TH, a 200 TH machine costs about $800, putting a simple payback near 316 days on that margin.<\/p>\n
When purchasers are underwriting close to a year of payback before routine operating frictions, the clearing price for rigs becomes tied to IRR thresholds rather than scarcity narratives.<\/p>\n
That framing also helps explain why discounts can extend to newer products without immediately triggering a higher repricing.<\/p>\n
There is also a supply-side shift underway<\/h2>\n
Earlier cycles saw long lead times and fragmented distribution amplify shortages, which let original equipment manufacturers and resellers reprice inventory quickly during demand spikes.<\/p>\n
This cycle resembles a more industrial market, where manufacturers manage turnover amid competition from the secondary market and from multiple product tiers.<\/p>\n
\n
<\/div>\n<\/div>\n
TheMinerMag characterized the breadth of Bitmain\u2019s cuts as a response to weak economics and tighter competition, rather than a single promotional window.<\/p>\n
The gap from the prior mania remains visible in historical comparisons of $\/TH pricing.<\/p>\n
According to Digital Mining Solutions, hardware in the 25\u201338 J\/TH range traded around $105\/TH in November 2021, versus around $12\/TH by March 2024, even as Bitcoin printed an all-time high during that period.<\/p>\n
The comparison is not a perfect apples-to-apples match across generations and form factors, but it captures the directional change in \u201chashrate purchasing power\u201d that miners face when network hashrate and difficulty re-rate faster than fee income.<\/p>\n
Bitmain\u2019s packaging of hosting with machines also points to where scarcity has migrated.<\/p>\n
Bundling shifts the sales pitch from a single capex decision to an end-to-end operating proposition: power procurement, deployment, and operations.<\/p>\n
In a market where efficient megawatts are hard to secure at predictable pricing, power access can be the binding constraint.<\/p>\n
That makes hosting partnerships and containerized deployments a lever to convert price-sensitive buyers.<\/p>\n
Capital allocation outside pure Bitcoin mining is another factor shaping marginal demand for ASIC expansion.<\/p>\n
Public-market narratives have increasingly rewarded miners for positioning data centers toward AI and high-performance compute rather than maximizing hashrate at any cost.<\/p>\n
Several miners have pursued or evaluated AI-related data center strategies to diversify revenue.<\/p>\n
Investor attention around large AI data center transactions has also buoyed some miner equities, reinforcing incentives to direct incremental capex to infrastructure that can serve multiple revenue streams.<\/p>\n
\n
<\/div>\n
Related Reading<\/span><\/p>\n
70% of top Bitcoin miners are already using AI income to survive bear market<\/h3>\n
Ranking the top Bitcoin miners by AI revenue and hashrate reveals how the industry\u2019s leaders are redefining scale.<\/p>\n
Nov 8, 2025<\/span> \u00b7<\/span> Liam ‘Akiba’ Wright<\/span><\/p>\n<\/div><\/div>\n
Forward pricing has reinforced caution on near-term mining economics<\/h2>\n
Luxor\u2019s November review noted USD-denominated forward hashprice for December 2025 through April 2026 fell by about 16\u201318% from Nov. 3 to Dec. 1, while BTC-denominated forwards moved higher.<\/p>\n
That divergence matters for operators that pay expenses in dollars.<\/p>\nBitcoin hashprice forward curve (Source: Luxor)<\/figcaption><\/figure>\n
Even with improved BTC terms, the day-to-day budget constraint is USD cash flow, and the forward curve has reflected continued pressure.<\/p>\n
Whether ASIC pricing regains its prior-cycle beta now depends less on Bitcoin\u2019s tape and more on a sustained change in fee contribution and net hashprice after difficulty response.<\/p>\n
In the absence of a durable fee regime that lifts revenue per TH for months rather than days, buyers have reason to treat $\/TH as a payback instrument.<\/p>\n
That can push OEMs toward lower entry costs, shorter delivery risk, and bundled operating support.<\/p>\n
Bitmain\u2019s January 2026 shipping window for its discounted bundles is set to test how much of the market will commit to expansion at sub-$10\/TH pricing under a $35\u2013$50\/PH\/day hashprice band.<\/p>\n
\n
Mentioned in this article<\/span><\/div>\n<\/div>\n<\/div>\n
Bitmain cut prices on Bitcoin mining rigs on Dec. 23 after miner revenue per unit of hashrate fell in November. The discounts, which extend to current-generation hydro and immersion products, are landing in a cycle in which Bitcoin\u2019s price strength has not translated into the kind of mining-margin expansion that previously drove hardware scarcity and<\/p>\n","protected":false},"author":1,"featured_media":5076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[91,445,454,450,447,453,451,303,449,448,452,446],"class_list":{"0":"post-5075","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum","8":"tag-bitcoin","9":"tag-bitmain","10":"tag-dead","11":"tag-markets","12":"tag-mining","13":"tag-officially","14":"tag-oldest","15":"tag-prices","16":"tag-proving","17":"tag-rig","18":"tag-rule","19":"tag-slashed"},"yoast_head":"\n
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