Based on reports from industry press and internal price lists, Bitmain has significantly reduced the asking prices of several of its Bitcoin ASIC models, a move related to declining mining revenues and bloated inventories.
This reduction will bring some high-end units closer to large-scale break-even levels for operators paying standard electricity rates.
With the April 2024 halving reducing the Bitcoin block reward to 3.125 BTC, mining companies are turning to renewable energy to reduce operating costs.
Normally, rising Bitcoin prices help offset subsidy cuts, but 2025 defied expectations. Bitcoin prices peaked in October at over $126,000, before plummeting to $80,000 by November.
S19e XP Hydro and Bundle Sale
According to dealer price lists, the S19e XP Hydro and 3U S19 XP Hydro are being offered at approximately $3 per TH/s in select factory sales and promotions.
According to market statistics, the price of the S19 XP+ Hydro unit is hovering around $4 per TH/s. Older immersion-enabled models like the S21 Immersion and S21+ Hydro are listed for around $7-8 per TH/s in certain offers, while some auction listings are starting bids closer to $5.5 per TH/s for the S19k Pro variant.
mining margin squeeze operator
According to market trackers, mining revenue per unit of hashpower has fallen to levels not seen in years. This decline has caused many carriers to re-evaluate their expansion plans and look for cheaper equipment and lower hosting fees.
Bitmain's price action appears to be aimed at quickly shifting the stock price rather than supporting margins. Some miners reported that the price reduction was large enough to make previously unprofitable deployments look acceptable again, but only if power costs remain low and Bitcoin prices recover.
Market reaction and secondary sales
The used gear market reacted quickly. Some resellers lowered prices further to match factory cuts, leading to a chain reaction of lower bids and more machine replacements.
Analysts say the auction style and high-volume sales that surfaced in the listing are signs that manufacturers are trying to clear inventory without announcing deep discounts across all channels.
Small businesses cried out with relief. Larger operations said they are watching closely, considering whether to buy new units or delay purchases.
Competition and industry background
The report points out that demand is weak across the industry, not just one manufacturer. Competing brands are also adjusting their offers in response, swelling the supply of used goods.
The overall effect was faster replacement cycles for the most efficient miners and accelerated retirement or resale of old rigs.
The hash price metric, which measures revenue per TH/s, is at a multi-year low, with little room for recovery unless Bitcoin prices improve or electricity prices fall.
Short-term, inexpensive new rigs could ease cash pressures for some operators who can install them at favorable power rates. In the long term, the market is likely to consolidate as undercapitalized miners exit.
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