Bitcoin ASIC miner prices hovering at lows not seen in years

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But the steep price fall has been met with some keen buyers. Among those include many Russian-based mining facilities like BitRiver, which are able to capitalize on relatively low electricity costs, with some up-to-date hardware capable of mining 1 BTC at about $0.07 per kilowatt-hour in the energy-rich nation.

While it’s hard to predict what price direction ASIC miners will head toward next, Nico Smid of Digital Mining Solutions pointed out in a Dec. 21 tweet that ASIC miner prices bottomed at Bitcoin’s last halving cycle in May. 11, 2020 and moved up aggressively shortly after — something which could play out in Bitcoin’s next halving cycle which is expected to take place on April 20, 2024.