TLDR

  • Bitmain reduces the prices of S19 and S21 ASICs as the hashprice reaches multi-year lows
  • Substantial discounts and auctions indicate an urgent effort to clear older Hydro stock
  • Bundle and hosting deals combine hardware with power at 5.5–7¢ to boost volume
  • Operators postpone shipments until 2025–2026 while margins remain under pressure
  • Industry retrenchment intensifies as weaker revenues dampen demand for legacy rigs

Bitmain significantly cut hardware prices as mining profits dropped to multi-year lows, and this change signaled pressing market pressure. The company sold several generations of ASICs at substantial discounts, and buyers noticed broader price cuts across product lines. This strategy demonstrated Bitmain’s attempt to accelerate inventory turnover during a challenging revenue situation.

S19 Series Prices Drop as Hashprice Declines

Bitmain lowered prices on its S19 line while the hashprice reached some of the weakest levels in recent years. It offered bundle deals that included S19 XP+ Hydro units paired with a container. Moreover, these offers implied unit prices close to $4 per terahash, showing significant cuts across older models.

It scheduled shipping for these bundles in early 2026 as operators continued to face margin pressure. The company also held an auction for the S19k Pro, which started with a low base bid. Additionally, buyers could set their own prices, and deliveries were still planned for late 2025.

Bitmain also published internal factory lists that confirmed prices as low as $3 per terahash for certain S19 Hydro units. The lists showed similar price cuts for XP+ Hydro machines, which marked an additional move towards discounting. As a result, these price cuts strengthened the impression that Bitmain aimed to clear the remaining S19 stock.

S21 and Hydro Models See Significant Price Cuts

Bitmain also reduced prices on S21 Immersion units as demand slowed across the industry. It offered these models at around $7 per terahash, which represented notable cuts for newer equipment. The company positioned Hydro models at approximately $8 per terahash before additional coupons.

Bitmain expanded these offers through updated emails that highlighted year-end availability. The communications emphasized the continuity of price adjustments as market conditions remained weak. Similarly, the broader pricing strategy aligned with industry expectations of ongoing pressure.

Bitmain also promoted integrated hosting packages along with hardware to encourage higher volume sales. Hosting rates ranged from 5.5 to 7 cents per kilowatt-hour across several regions. This approach showed that Bitmain linked infrastructure access with discounted equipment.

Mining Economics Drive Industry-Wide Retrenchment

Bitmain took action in the midst of a record network situation that continued to squeeze miner profits. The lower revenue per unit of computing power weakened demand for less efficient ASICs. Consequently, competition increased among manufacturers and secondary sellers.

Bitmain has not specified the duration of these discounts during the ongoing downturn period. The extent of the price cuts indicated a desire to maintain sales despite falling margins. Overall, the company adopted an aggressive pricing strategy as mining economics remained strained.