Research: Prices of new mining machines surge 35% since November

According to the latest research from cryptocurrency mining company HASHR8, the market for Bitcoin mining machines is heating up.

John Lee Quigley, head of Bitcoin media and product research at the company, said that whenever the price of Bitcoin rises sharply, the mining machine market will be affected because miners must further expand their mining operations to earn higher profits, and new miners must also ensure favorable mining conditions.

John Lee Quigley analyzed that since Bitmain and MicroBT previously claimed that mining machine orders had been scheduled until May 2021, miners had to turn to the secondary market. Since November 2020, the price of new mining machines has risen by 35%.

John Lee Quigley also disclosed a piece of news. He estimated that Marathon Patent Group is the mining company that has received the most orders for the latest mining machines. If all goes well, the company will receive 6,000 Bitmain S-19J Antminers in August 2021, and then another 4,000 of the same mining machines in September 2021.