What I don't understand is the big risks and doubling down by Canaan and Bitmain on 5nm chips for the next set of ASIC miners, supposedly out in Q1 of 2020!
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Brad
Isn't every ASIC that is released overpriced however? Even going back to the Antminer S5 which was released during a bear market. People said it was over-priced and then they slashed prices to compete with the SP 20 miner.
Same with the miners before that the Antminer S3 and S4, they were released during a sideways market, were overpriced and most likely any home miner which bought those never ROI'd if you took into account USD fiat rewards.
I am guessing that there are farms that get these miners at a discount and they got tons of capital to run them almost at break-even and they probably only sell during a bull rally. Why they don't just buy the BTC directly I don't understand however.
That set me a-thinking. Who profits the most (if at all) from mining? Not the miners. But the equipment sellers. They know how to ride the cryptowave