Bitmain Launches Clearance Sale on Mining Machines, S21 Priced at $7/TH/s
- Clearance Promotion: Amid increasing pressure in the mining sector, Bitmain has launched a clearance sale on its mining machines, with the latest model, the S21, priced at just $7 per TH/s, indicating an urgent need for cash flow to cope with declining demand.
- Market Pressure: The current hash price has dropped to nearly $35, below the breakeven point of $40 for many miners, leading to widespread losses in the mining industry and forcing Bitmain to quickly clear its inventory to maintain market share.
- Innovative Pricing Strategy: Bitmain has allowed buyers to name their own price for certain bundled models for the first time, a non-traditional pricing strategy aimed at rapidly generating cash, reflecting the sharp decline in market demand.
- Industry Transition: As profitability declines, mining companies are increasingly considering a shift to green energy, and Bitmain's strategy may signal a potential repositioning towards new fields like artificial intelligence to adapt to the industry's transformation.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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