BitDeer Announces Auction of Used Mining Machines

BitDeer Announces Auction of Used Mining Machines

BitDeer, a leading bitcoin cloud mining company founded by Bitmain co-founder Wu Jihan, has announced an auction of used mining machines. The first batch of products to be auctioned will be 2,880 Antminer S19s that were previously deployed in Norwegian data centers. The starting price for the auction is $270,000. The auction is scheduled to begin on [Date] and will be conducted through BitDeer's official website. Interested buyers can register for the auction on the BitDeer website. The announcement of the auction comes as the cryptocurrency market continues to experience a downturn. The price of bitcoin has fallen by more than 70% since its peak in November 2021, and the hashrate of the Bitcoin network has also declined. This has led to a decrease in revenue for mining companies, and many are now looking to sell off their used equipment. It will be interesting to see how much interest there is in the BitDeer auction. The starting price of $270,000 is significantly lower than the current price of a new Antminer S19, which is around $4,000. This may make the auction attractive to buyers who are looking for a more affordable way to get into mining. However, it is important to note that used mining machines may not be as efficient as new machines. They may also require more maintenance and repairs. Buyers should carefully consider all of these factors before placing a bid in the auction.