The price of Bitcoin ASIC miners is currently hovering at levels not seen in several years.

The price per terahash of ASIC miners has dropped by more than 80 percent since its all-time high in 2021, as more and more Bitcoin mining machines continue to flood the market.

Bitcoin ASIC miners, which are machines that are optimized for the sole purpose of mining Bitcoin, are currently selling at bottom-of-the-barrel prices not seen since 2020 and 2021, in what is being viewed as another sign of a deepened crypto bear market. Bitcoin ASIC miners are machines that are optimized for the sole purpose of mining Bitcoin.

The most efficient ASIC miners are those that generate at least one terahash for every 38 joules of energy. According to the most recent data from Hashrate Index, the price of these miners has dropped by 86.82% since their peak on May 7, 2021, when it was $119.25 per terahash and has now fallen to $15.71 as of December 25.

Antminer S19 from Bitmain and Whatsminer M30s from MicroBTC are two examples of miners that fall into this category.

The same premise holds true for the machines that fall into the middle tier, with prices currently averaging out at $10.23. This represents a significant decrease of 89.36% from their all-time high of $96.24 on May 7, 2021.

However, the least efficient machines, which are ones that require more than 68 Joules per TH, are now priced at $4.72, which is a drop of 91% from their all-time high price of $52.85. The last time the price was this close was somewhere around November 5th, 2020.

Large Bitcoin mining companies have struggled to remain profitable throughout the bear market. As a result, many of these companies have either filed for Chapter 11 bankruptcy, taken on debt, or sold their BTC holdings and equipment in order to stay afloat. As a result, the fall in prices has been largely attributed to these companies.

Core Scientific, Marathon Digital, Riot Blockchain, Bitfarms, and Argo Blockchain are just some of the companies that have successfully completed this task.

However, the significant drop in price has been met with enthusiasm from prospective purchasers. The energy-rich nation of Russia is home to a large number of mining facilities, such as BitRiver, which are able to operate profitably due to the country's relatively inexpensive electricity. Using relatively modern hardware, these facilities are able to mine one Bitcoin (BTC) for approximately $0.07 per kilowatt-hour in Russia.

Nico Smid of Digital Mining Solutions pointed out in a tweet on December 21 that ASIC miner prices bottomed out at Bitcoin's last halving cycle in May. 11, 2020 and moved up aggressively shortly after — something that could play out in Bitcoin's next halving cycle which is expected to take place on April 20, 2024. Although it is difficult to predict what price direction ASIC miners will head toward next, Nico Smid did point out that ASIC miner prices bottomed out at Bitcoin's

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