Current status of Bitcoin mining: Chip shortage hinders mining machine production, miners buy equipment at high prices to enter the market

Data shows that the difficulty of Bitcoin mining has reached a record high of 20.82T, and the computing power of the entire network has reached 146.21 EH/s.

(Screenshot from btc.com)

As the difficulty of Bitcoin mining hits a new high, there are reports that Bitcoin miners may face a major test due to the global chip shortage. Reuters quoted Alex Ao, vice president of mining equipment provider Innosilicon, as saying, "There are not enough chips in the market to support the production of mining equipment."
As a result, the price of mining machines has soared, and some mining machine manufacturers have almost sold out their equipment. Data shows that the price of new mining machines has doubled, while the price of second-hand mining machines has risen by more than 50% in the past year.
"Despite this, there are still miners willing to buy Bitcoin mining machines at high prices, and some miners even buy equipment through borrowing." All this shows that miners are full of confidence in their Bitcoin price expectations.
Since October last year, Bitcoin has experienced a substantial growth due to factors such as the halving effect, institutional fund-raising and central bank liquidity. The price has not only exceeded the historical high of $20,000, but also once reached $40,000, doubling from the peak. At the same time, the market value of the asset has surpassed many global giants such as TSMC. The strong rise of Bitcoin has prompted miners to be willing to pay high prices to buy equipment to enter the market.
At the same time, this also attracts large mining companies to buy Bitcoin in the secondary market to increase corporate profits. Recently, Nasdaq-listed company and Bitcoin mining organization Marathon Patent Group said that the company purchased about 4,812 Bitcoins for $150 million.
As of press time, BTC is quoted at $32,726, down 5% in 24 hours. (Mars Finance)