Bitmain Launches Unprecedented Discounts as Bitcoin Mining Profits Plunge

Bitmain has slashed prices on its mining hardware, including S19 and S21 models, amid a sharp drop in mining profitability and demand. The move reflects urgent market pressures following the 2024 Bitcoin halving and falling hashprice.

Bitmain, a leading manufacturer of cryptocurrency mining hardware, has launched unprecedented discounts across its product lines, including the Antminer S19 and S21 series, in response to a sharp decline in mining profitability. The company is offering steep price reductions, with some immersion-cooled S21 models available at $7 per terahash and select S19 Hydro units as low as $3 per terahash. Bundled deals and auction-based sales allow buyers to set their own prices, reflecting urgent efforts to clear inventory amid falling demand. The mining sector faces significant challenges, including a drop in hashprice to around $35 per TH/s/day—below the $40 break-even point—following the April 2024 Bitcoin halving, which reduced block rewards to 3.125 BTC. Rising energy costs, regulatory pressures, and stagnant Bitcoin prices have further squeezed margins, prompting some operators to consider renewable energy solutions. Bitmain's aggressive pricing strategy signals intense market pressure and a critical moment for the industry, as many miners operate at a loss and competition intensifies among manufacturers and secondary sellers.