On Nov. 29, one of the largest manufacturers of crypto mining hardware announced that it was holding a “flash sale” for all its crypto mining devices as a celebration for the price ‘bottom.’ All the company’s miners from Avalon 851 (14.5 TH/s) to Avalon 921 (20 terahashes per second) are now available for $200 each.
Past Few Weeks Have Been Tough For Crypto Miners
While speaking to CoinDesk, Steven Mosher, a representative of the company said that the sale had no set end date. He also added the company had sufficient inventory for all miners except for Avalon 911 which was sold out.
He went on to add that the company was ‘celebrating’ after the price of Bitcoin jumped 11 percent on Nov. 28 after the recent free fall.
The recent market slump has seen miners profitability shrink due to low Bitcoin prices. Mosher said there were “concerns people were turning off machines, and smaller guys were getting out of the market, and that everyone is sitting and waiting.”
Adding:
“I’m looking, and I see [bitcoin] rebound, it’s up to $4,300, and my thinking was, I’m going to celebrate. Usually if [bitcoin] goes up, we would put prices up. Well, I thought I’m going to try something different.”
After everything the crypto market has been through since the Bitcoin Cash hard fork, Mosher is of the opinion that “Now’s the time to celebrate, we’re at a bottom.”
“We’re agnostic when it comes to what people want to mine. We want to make sure big miners are staying committed and stay hopeful,”
The flash sale comes as welcome news for crypto miners after a tough period.
Last week the third largest Bitcoin mining pool, F2Pool estimated that between 600,000 to 800,000 BTC miners had shut down since the market had started to crash in mid-November.
Mao Shixing, the founder of the pool, said the estimates take into account the total network hash rate drop. He also revealed that falling prices had made it difficult for older machines to generate any profits.
