Bitmain is accelerating price cuts across both legacy and current-generation Bitcoin mining hardware, signaling deepening pressure on profit margins within the mining sector. Recent social media promotions and internal factory price lists circulated to customers show significant discounts on ASIC units from the S19 and S21 series.
In late December, Bitmain promoted bundled deals and discounted factory pricing that would have previously been classified as distressed pricing earlier in the cycle.
On Dec. 23, the company advertised a package sale for four S19 XP+ Hydro miners bundled with an ANTRACK V2 container, effectively pricing the 19 J/TH model at roughly $4 per terahash-per-second (TH/s). Shipping for this batch is scheduled to begin in January 2026.
The price cuts followed a November auction-style sale of air-cooled S19k Pro units, a 23 J/TH machine, which opened bidding at $5.50/TH. Buyers were allowed to name their own price, with final sale prices determined after the bidding window closed. Deliveries for those machines are slated for December 2025.
Internal factory price lists shared with customers and reviewed by industry media show that the discounts extend well beyond one-off promotions. As of Dec. 22, Bitmain was quoting prices as low as $3/TH/s for S19e XP Hydro and 3U S19 XP Hydro units, and around $4/TH/s for S19 XP+ Hydro machines directly from the factory.
Even newer-generation hardware has seen meaningful reductions. S21 Immersion units were priced near $7/TH/s, while S21+ Hydro models were offered at roughly $8/TH/s before coupon discounts, according to the price list.
These markdowns coincide with broader sector challenges, as the mining industry contends with one of the toughest profit environments in years.
Revenue per unit of computing power, known as hashprice, has fallen to multi-year lows, nearing $35 per TH/s/day, squeezing operators’ margins and increasing pressure to reduce capital costs.
Bitmain’s aggressive pricing strategy appears aimed at stimulating demand as miners seek more affordable equipment to maintain viability amid declining returns.
With supply tightening and demand fluctuating alongside Bitcoin price dynamics, discounted hardware could appeal to operators looking to upgrade or expand at lower entry costs. As the mining industry navigates this challenging period, Bitmain’s pricing moves mark a notable shift in the market for ASIC hardware.