Bitcoin Miners are lately experiencing significant complications due to the global shortage of Semiconductors. This came right after some reports surfed from China on Semiconductor crunches affecting pretty much every business category, primarily at the supply chain manufacturers of cars, PCs, laptops, smartphones, and cryptocurrency mining devices. And this global crunch has also led to the price hike of Old generation and Second-Hand mining rigs. Bitcoin Mining Complications Spurred Globally Due To Semiconductor Crunches The current global supply crunches for Semiconductors was ignited by the aftermath of the COVID-19 pandemic and the prolonged worldwide lockdown, which boosted its complications over the mass levels. Automobile OEM’s, PC manufactory, smartphone production, and almost every electronics manufacturer have come under the matter of global concern. Several leading auto manufacturers like Nissan, Toyota, Volkswagen, Ford, and many more have been nail-biting all this while obtaining microchips from suppliers like TSMC. Iyke Aru, a financial reporter from China last Thursday, reported about the semiconductor supply curb “taking a toll on Chinese bitcoin miners.” “The unique case of mining is complicated due to the coincidence with the increasing demand for Bitcoins and the associated expansion of the mining industry.” Additional details from Aru also pointed out the reason behind this prolonged shortage, “Chinese cryptocurrency miners are already scrambling for second-hand machines just to keep up with industry requirements.” Semiconductor Supply Crunch Invoked The Soaring Price Of Second-Hand Machines Amidst the global crunch in the supply of Semiconductors, manufacturers and industry executives are on the quest for an ideal alternative that has comparatively surged the overall requirement. Meanwhile, Nvidia revealed some of the cheaper alternatives that could suffice for the semiconductors crunches. During an interview with Marketwatch, Patrick Moorhead, the principal analyst at Moor Insights, said that the global Semiconductor crunch had impeded businesses primarily depending on Semiconductors for their foundry work. “There is not enough capacity at TSMC and Samsung,” Moorhead briefly explained. “There are too many people going for the same foundries.” Scrambling for second hand and older generation mining rigs weren’t confined to China but also spread across the U.S. & European Market is experiencing an unwanted surge in pricing. For instance, eBay listings have hundreds of results for pre-owned S9s and even selling bulk packages. Mining rig price boosted from 2x to even 10x than what they use to be throughout the cryptocurrency landscape amid the bull run. However, the quantity of second-hand mining machines is far more extensive than older generation mining rigs, as new releases have become much harder to procure. Besides, there are bare minimum listings on secondary marketplaces and even less from the direct manufacturer deliveries until spring 2021.
The post Bitcoin Mining Complications Under Semiconductor Crunches Hiked Old Rig Prices appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
