600,000 Old Bitcoin Mining Machines Are Moving From U.S. to Africa, South America

The upcoming halving of Bitcoin block rewards has ignited a surge in global demand for previous-generation crypto miners, particularly those owned by U.S. companies. Ethan Vera, Chief Operating Officer of Luxor Technology, a leading provider of crypto mining services and logistics, approximates that approximately 600,000 S19-series computers, constituting the bulk of machines currently in operation, are being relocated primarily from the U.S. to regions such as Africa and South America, where energy costs are lower.

Bitmain’s Ant S19 series of mining machines, renowned for their efficiency and performance, once commanded prices soaring up to $11,500 per unit at their peak. However, in response to market dynamics and the anticipation of the Bitcoin block reward halving, these machines have now seen their prices slashed to an estimated $350 per machine. This significant price reduction has further fueled the migration of mining operations to regions with more favorable energy conditions, driving a profound shift in the global crypto mining landscape.