Canaan Creative, the world’s second biggest Bitcoin mining company, is selling off its mining machines, according to RT.
Looking at the company’s website, you can see that it is selling in bulk only, with a minimum order sizes. For example, if you are in the market for an AvalonMiner 851, retail price $380, you would have to buy at least 20 ($7,600).
Representative Steven Mosher explained to CoinDesk that the sale is a “celebration” – the low price of cryptocurrency gives smaller operations that opportunity to get into the market. A slight rise in the price last week led him to say: “Usually if [the Bitcoin price] goes up, we would put prices up. Well, I thought I’m going to try something different….Now’s the time to celebrate, we’re at a bottom.”
Not everyone is celebrating though – according to Bloomberg, between 100,000 and 1.4 million individual nodes have ceased working since September. This is because dramatically dropping prices in the cryptocurrency market mean that it is currently not profitable to mine