FX168 Financial News (Asia-Pacific) — China’s earliest Bitcoin pioneer, "Shenyu" Mao Shihang, founder of the world’s largest Bitcoin mining pool F2Pool, highlighted a potential entry opportunity as ASIC miners face losses due to Bitcoin’s price drop.
Key Market Dynamics
Miners Hit "Shutdown Price"
- Bitcoin’s recent plunge below $54,000 (a 4-month low) triggered losses for ASIC miners operating at >23 W/T efficiency.
- F2Pool data shows only select Antminer and Avalon models remain profitable above $53,100.
Turning Point Ahead?
- Shenyu’s tweet: "When miners shut down… opportunities emerge."
Analysts interpret miner shutdowns as a possible market bottom indicator, citing:
- Reduced network hash rate → slower coin issuance → potential price support.
- Historical correlation between miner capitulation and price rebounds.
Balancing Risks and Opportunities
- Risks: Continued volatility, operational costs outpacing rewards.
- Opportunities: Accumulating assets at lower prices, upcoming network difficulty adjustments favoring efficient miners.
FAQs
Q: Why do miner shutdowns matter?
A: They signal breakeven points for mining operations, often preceding market recoveries.
Q: What’s the breakeven price for S19 miners?
A: ~$52,000, according to Primitive Crypto’s Dovey Wan.
Q: Should investors buy Bitcoin now?
A: Long-term investors may see value, but short-term traders should monitor hash rate trends and macroeconomic factors.
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