Foundry captures a large gap between buyers and sellers of asic miners
Cryptowinter has caused the market for mining devices to plunge into deflation. There is a significant difference in the cost of the devices set by the sellers and what miners are willing to pay.
Note, that the situation differs depending on the model, but for the new generation hardware, the Foundry notes the following figures. In the case of the S19J Pro, for 1 TH buyers are willing to pay no more than $15, while the cost on the sellers' side only starts at $20 per 1TH. Bitmain noted:
Although there are deals at the $18 per 1TH level, the market is too immobile. It is because most miners are in a difficult financial situation.
Compared to the peaks of a year ago, the value of asic is down 80%. The situation leaves sellers with a choice of selling inventory now or cutting back on sales until the value of BTC rises.
Foundry noted that they regularly receive offers from institutional investors to buy distressed mining assets.