Based on reports from industry media and internal price lists, Bitmain has drastically reduced asking prices for some of its Bitcoin ASIC models, which has been linked to lower mining revenue and increased inventory.
The cuts will bring some high-end units closer to wholesale break-even levels for operators paying standard power rates.
Following the April 2024 halving, which reduced the Bitcoin block reward to 3.125 BTC, mining companies are increasingly adopting renewable energy to lower operating costs.
Normally, a higher BTC price would help offset the reduction in subsidies, but expectations were not met in 2025. After peaking above $126,000 in October, the price of Bitcoin plummeted to $80,000 in November.
S19e XP Hydro and Bundle Deals
According to dealer price lists, the S19e XP Hydro and 3U S19 XP Hydro are being offered for approximately $3 per TH/s on select factory sales and promotions.
Market figures point out that S19 XP+ Hydro units are hovering around $4 per TH/s. Older and immersive models like the S21 Immersion and S21+ Hydro are listed for around $7-$8 per TH/s in certain offers, while some auction listings have started with bids around $5.50 per TH/s for the S19k Pro variant.
Mining Margin Squeezing Operator
According to market trackers, mining revenue per unit of hashpower has fallen to levels not seen in years. This decline has caused many operators to reevaluate their expansion plans and look for cheaper equipment or lower hosting rates.
Bitmain’s price movements appear to be geared toward moving inventory quickly rather than supporting margins. Some miners reported that the price reductions were large enough to allow previously unprofitable deployments again. But only if power costs remain low and the Bitcoin price recovers.
Market reaction and secondary sales
The used equipment market responded quickly. Some resellers will further reduce prices to accommodate factory downsizing, lowering bids and replacing more machines.
Analysts say the auction format and bulk sales seen in public listings are signs that manufacturers are trying to clear inventory without posting big discounts across all channels.
Small operators expressed relief. The larger business said it was carefully watching whether to buy new devices or delay purchases.
Competition and Industry Situation
The report notes that demand is weak across sectors, not just from one manufacturer. Competing brands have adjusted their offers in response and used supply has increased.
The overall effect is a faster replacement cycle for the most efficient miners and accelerated retirement or resale of older equipment.
The hash price indicator, which measures revenue per TH/s, is at multi-year lows, leaving little room for recovery unless the Bitcoin price improves or electricity costs fall.
Short-term, low-cost new equipment could ease cash pressures for some operators who can deploy it at favorable power rates. In the long term, the market may see consolidation as undercapitalized miners exit.
Featured image from Pexels, chart from TradingView
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