According to Hashr8, the prices of the latest generation of mining rigs have increased by 35% since the beginning of November. The observed price increase is due to Bitmain and Microbt reportedly being sold out until May 2021. Due to the fact that the supply of mining platforms cannot meet the demand, some miners are now forced to move to the secondary market.

In a blog postHashr8’s John Lee Quigley wrote that the bitcoin mining machine market is heating up because “everyone is optimistic about bitcoin and the rise in mining machine price certainly reflects that.”

Bullish BTC: Prices for mining rigs are up 35% since early November - shortages force miners to move to secondary market

While Bitmain and Microbt are sold out, Quigley reveals that one company, Marathon Patent Group, has managed to get “a purchase agreement for the latest generation of rigs.” According to Quigley, Marathon will receive 6,000 Antminer S-19J Pro rigs by August 2021 and an additional 4,000 in September 2021. The purchases will increase Marathon’s total hash output to 3.56 EH / s.

Bullish BTC: Prices for mining rigs are up 35% since early November - shortages force miners to move to secondary market

Meanwhile, Quigley shares his views on the mining market outlook. He says:

With big companies like Marathon buying in bulk amounts and sentiment indicators showing record highs for bullish outlook, it doesn’t look like the mining equipment market will slow down anytime soon.

As more institutional investors join the bitcoin buying frenzy, bitcoin analysts predict it will push the value of the digital currency further up. When the price of bitcoin rises significantly, everything in mining goes up.

Meanwhile, as Quigley explains, is rising BTC prices only help “encourage current miners to expand their businesses to take advantage of broader profit margins.” On the other hand, “new miners are also trying to enter and secure some of the lucrative mining conditions.”

Do you agree with Quigley’s claims that rise BTC prices are responsible for the increased prices of mining installations?

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