Good Time to Buy Crypto Mining Stocks, Says DA Davidson as It Slashes Hashrate Forecasts
— Mining, Hashrate, Broken orders, Asics could mean, Mining bitcoin, Major drop, Overblown, Buy, Forecasts, Slashes — 1 min read
A major drop in the price of ASICs could mean that manufacturers are more lenient with payments and that fears of "broken orders" turn out to be overblown. As smaller miners without economies of scale are unable to keep their operations going, competition on the network is dropping, which in turn lowers the cost of mining bitcoin and protects gross margins. A drop in ASICs means that manufacturers will be more leerient with payments, and that they may be less leery with bitcoin payments. The price of bitcoin mining equipment could be too much to blame for the drop in price of mining ASICs, according to the experts at the start of the year. The market is set to open for the first time this year. Source