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Chinese Crypto Miners Are Scrambling for Secondhand Machines as Bitcoin Bull Runs

Bitcoin generates 210 million CNY a day, and Antminer S9 has become a cash cow

At present, the daily output of bitcoin mining is 900 pieces, and the transaction fee output is about 109 pieces. Judging from the coin price at $32000, the daily output of bitcoin mining is about $32.29 million, about 210 million Chinese yuan, whose output has increased about five times.

According to the data from Poolin, the daily income of more than 90 bitcoin mining machines exceeds 10 Chinese yuan, and that of 11 bitcoin mining machines exceeds 100 yuan. Among them, Whatsminer M30S++, Antminer S19 Pro and Whatsminer M30S+ ranked as the top 3, with daily income of 149 yuan, 147 yuan and 130 yuan respectively.

Antminer S9 was born in the previous crypto bull. It had been completely eliminated by the market, but today, the daily output of this machine is 9.74 Chinese yuan, and the electricity charge accounts for 54%. Previously, the second-hand price of S9 was once only nearly 100 Chinese yuan. Today, the price of S9 has risen to about 600 Chinese yuan. During just a few months, S9 has changed from scrap metal into a cash cow.

As long as it is a mining machine, the miners are thinking about making it run. As soon as the machine runs, it means the banknote printing machine starts. Jiang Zhuoer, the founder of BTC.com claims on Weibo that he had nearly 100000 S9 to deploy and start.

On January 4, the average network hashrate of bitcoin was 142E, a record high, up about 42% from the same period last year. It is estimated that the difficulty of bitcoin mining will be increased by 5.51% in four days.

In October, the proportion of China’s bitcoin computing power suddenly bounced to 72.21% from 53% in the world. Practitioners speculated that this may come from the restart of “shutdown mining machine” after the pump of bitcoin price.

At present, it is still a dry season. When the wet season comes in May, at the current price, more sleeping mining machines will wake up from the warehouse.

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