As Bitcoin Price Falls, Is Now The Time To Buy Mining Rigs? Today

25

One reason why miners often pay close attention to bitcoin’s price is because mining machines have a strong positive correlation to its fluctuations. And as bitcoin’s dollar-denominated value has dropped precipitously this month, mining hardware prices followed.

At its recent lows, bitcoin was trading near $17,000, a drop of over 60% year to date. Over the same period, prices for the most efficient mining machines fell by 41%, as detailed below.

Observing the relationship between prices for bitcoin and bitcoin mining machines offers useful insight into the mining sector’s reaction to bitcoin price volatility and timing for accumulating discounted hardware.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More