A significant price drop in Bitcoin mining machines is causing ripples in the mining market. According to the latest information from Bitmain, it has become clear that flagship devices such as the S19/S21 series are entering record-low price ranges.

**Shift in the Price Structure of Mining Equipment**

Currently, the cost indicators for each model are significantly deviating from the traditional market prices. The S19e XP Hydro and 3U S19 XP Hydro have fallen to around $3/TH/s, while the S19 XP+ Hydro is positioned at approximately $4/TH/s. Meanwhile, the S21 series is also under similar pressure, with immersion models dropping to $7/TH/s and the S21+ Hydro to $8/TH/s.

Looking at past sales cases, the company set a minimum of $5.5 during an auction sale of the S21k Pro, highlighting the extent of the current price reductions.

**Intensified Competition Driven by Market Imbalance**

While mining difficulty remains near its highest levels, Bitcoin prices are in a decline phase, causing hash rate profitability to slump for the first time in years. This situation significantly pressures the revenue structure of mining operations and influences investment decisions in new equipment. In particular, demand for economically inefficient models is rapidly cooling, leading to unprecedented competition between manufacturers and second-hand equipment sellers.

Under these market conditions, the oversupply of ASIC devices is accelerating across the industry, and price competition is expected to become even more severe.