Bitmain Technologies is the world's largest producer and exporter of ASIC (application-specific integrated circuit) bitcoin miners. The company has announced that it will offer a discount on Antminer S19 Pro rigs. The machine can produce 100 terahash per seconds (TH/s) and is currently available for $19 per unit or $1,900 each. Antminer mining rigs have fallen 80% in price since March 28, which is five months ago.
Bitmain Reduces S19 Pro Price to $19 Per Terahash
Bitmain Technologies decided to offer a discount on its Antminer S19 Pro miners rigs amid the crypto winter. Bitmain Technologies has decided to sell its Antminer S19 Pro mining rigs at a discount. The price of bitcoin (BTC), is currently trading below $20K per unit. The difficulty of mining cryptocurrency is at an all time high, and the network's hashrate continues to coast at 223.73 exahash each second (EH/s).
Bitmain tweeted Tuesday that they were offering an Antiminer S19 Pro discount of $19/T. For bulk orders, please contact a Bitmain sales representative. The company stated that customers who have purchased S19 Pro already will be eligible to receive coupons.
Bitmain's 100-TH/s Technology is 80% cheaper than 5 months ago, Crypto Winter Highlights ASIC purchases at a Discounted price'
Bitmain's sale prices are significantly lower than Antiminer S19 Pro's. A customer could buy an Antiminer S19jPro with 104TH/s for $9.984 per unit on March 29, 2022. The S19j Pro's 100 TH/s S19 produces slightly less hashrate than its counterpart, but it is 80.96% more affordable at $1,900 per unit than S19 prices five month ago. The massive growth from many operations and Bitcoin's high hashrate may have been aided by lower prices.
The Nasdaq-listed, Gwyneth Paltrow-backed Terawulf announced this week that its Lake Mariner mining data centre now has 12,000 Mining Rigs. A large number of Terawulf rigs are Antminer S19s. Cleanspark Inc. (Nasdaq : CLSK) also stated that the crypto winter has provided "unprecedented possibilities" since it purchased 1,061 ASIC mining equipment rigs at an "unbeatable price."
What do you think of Bitmain's decision to drop the price of Antminer S19 pro units this week? Please comment below to let us know your thoughts on this topic.
Frequently Asked Questions
How much should precious metals be included in your portfolio?
First, let's define precious metals to answer the question. Precious metals are those elements that have an extremely high value relative to other commodities. This makes them extremely valuable for trading and investing. Gold is by far the most common precious metal traded today.
But, there are other types of precious metals available, including platinum and silver. The price for gold is subject to fluctuations, but stays relatively stable in times of economic turmoil. It is also unaffected significantly by inflation and Deflation.
In general, all precious metals have a tendency to go up with the market. They do not always move in the same direction. If the economy is struggling, the gold price tends to rise, while the prices for other precious metals tends to fall. Investors expect lower interest rates which makes bonds less appealing investments.
In contrast, when the economy is strong, the opposite effect occurs. Investors prefer safe assets such as Treasury Bonds and demand fewer precious metals. They become less expensive and have a lower value because they are limited.
Diversifying across precious metals is a great way to maximize your investment returns. You should also diversify because precious metal prices can fluctuate and it is better to invest in multiple types of precious metals than in one.
Should You Invest Gold in Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you are unsure which option to choose, consider investing in both options.
Not only is it a safe investment but gold can also provide potential returns. It's a great investment for retirees.
Most investments have fixed returns, but gold's volatility is what makes it unique. Therefore, its value is subject to change over time.
However, this does not mean that gold should be avoided. Instead, it just means you should factor the fluctuations into your overall portfolio.
Another benefit to gold? It's a tangible asset. Gold is less difficult to store than stocks or bonds. It can also be carried.
You can always access gold as long your place it safe. Physical gold is not subject to storage fees.
Investing in gold can help protect against inflation. You can hedge against rising costs by investing in gold, which tends to rise alongside other commodities.
You'll also benefit from having a portion of your savings invested in something that isn't going down in value. Gold usually rises when stocks fall.
You can also sell gold anytime you like by investing in it. As with stocks, your position can be liquidated whenever you require cash. You don’t even need to wait until retirement to liquidate your position.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Don't buy too many at once. Start with just a few drops. Add more as you're able.
It's not about getting rich fast. Rather, it's to build up enough wealth so you won't need to rely on Social Security benefits.
Although gold might not be the right investment for everyone it could make a great addition in any retirement plan.
Should You Open a Precious Metal IRA?
It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. There is no way to recover money that you have invested in precious metals. This includes all investments that are lost to theft, fire, flood, or other causes.
You can protect yourself against such losses by purchasing physical gold and silver coins. These coins have been around for thousands and represent a real asset that can never be lost. These items are worth more today than they were when first produced.
If you decide to open an IRA account, choose a reputable company that offers competitive rates and products. You should also consider using a third party custodian to protect your assets and give you access at any time.
Remember that you will not see any returns unless you are retired if you open an Account. Do not forget about the future!
Is the government allowed to take your gold
Your gold is yours and the government cannot take it. You have earned it by working hard for it. It belongs exclusively to you. However, there may be some exceptions to this rule. Your gold could be taken away if your crime was fraud against federal government. Your precious metals can also be lost if you owe tax to the IRS. However, even if you don't pay your taxes, your gold can be kept as property of the United States Government.
Statistics
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
External Links
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Want to Keep Gold in Your IRA at Home? It's Not Exactly Legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
bbb.org
finance.yahoo.com
How To
Tips for Investing in Gold
One of the most sought-after investment strategies is investing in gold. Because investing in gold has many benefits. There are several ways to invest in gold. Some people buy physical gold coins, while others prefer investing in gold ETFs (Exchange Traded Funds).
Before buying any type gold, it is important to think about these things.
- First, find out if your country allows gold ownership. If so, then you can proceed. If not, you may want to consider purchasing gold from overseas.
- You should also know the type of gold coin that you desire. You can choose between yellow gold and white gold as well as rose gold.
- You should also consider the price of gold. Start small and build up. Diversifying your portfolio is a key thing to remember when purchasing gold. You should invest in different assets such as stocks, bonds, real estate, mutual funds, and commodities.
- Remember that gold prices are subject to change regularly. It is important to stay up-to-date with the latest trends.
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By: Jamie Redman
Title: World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices
Sourced From: news.bitcoin.com/worlds-largest-asic-producer-bitmain-slashes-antminer-bitcoin-mining-rig-prices/
Published Date: Wed, 21 Sep 2022 17:30:07 +0000
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