Hashrate Index: older ASIC S9 machines lose value as newer models surge

According to a recent Hashrate Index report, older ASIC rigs such as the S9 are depreciating, while newer, more energy-efficient models are seeing price gains. Data shows the S9’s average price dropped 15–18% over six months, whereas advanced devices like S21 or S21 Hydro rose by 10–12%. This trend reflects intensified efforts to cut electricity costs and a push among operators to upgrade equipment ahead of upcoming increases in network difficulty.

Meanwhile, the resale market for secondhand ASICs shrank by 5–7% as many miners prefer leasing them out long-term or testing alternative algorithms. Demand for high-performance hardware is largely driven by major corporate farms, whereas smaller miners are partially exiting the market.

Analysts predict that over the next few quarters, the industry will continue shifting toward next-gen ASICs with liquid cooling and lower J/TH. If Bitcoin’s price stays above $90K consistently, older machines could see another 20% dip in value.