Topic: Where do large mining companies send old ASICs? (Read 298 times)

Unfortunately, scams might happen here. I see some ads on local websites and the price is ridiculous. Still, people buying these old ASIC's. I don't know what they do with these old ASICs. I feel like the buyers are new who don't know anything about these ASIC's they are buying. Or they are doing it as a hobby and has access to free electricity. I don't know what else could be the reason for buying these ASICs.

I feel like some people buy those ASICs in bulk at cheap prices from those mining companies and then sell them unit by unit at some higher prices.

most farms work with resellers, mainly through telegram but also in general. so they buy directly from them. That's part of the job, you know that every X years you have to change equipment (sometimes not).

Problems associated with transporting equipment create many problems. For example, after moving, 20-30% of my equipment does not work and I have to assemble and disassemble, clean and then monitor the correct operation of the mining equipment.

I do not think that this is what is happening now. This data was correct when most of Bitcoin was mined in China, and at that time miners used to transport mining equipment to Sichuan during the rainy season, and when energy prices rose again, they returned to coal-based generation. Things have changed a lot and no. I wonder if there is a country that currently has this feature.

ASIC is an Application-specific integrated circuit, and since it is manufactured for a specific purpose, its reuse for other purposes is limited. What can be done is to update it and improve its efficiency to a certain level. Some companies buy used mining equipment because it is cheaper and because they have access to low electricity and make a good profit.
Electricity prices greatly affect the profitability of these companies, and if you can get cheaper equipment and cheaper electricity, you will inevitably continue to work with equipment that is not profitable for most mining farms.

I have a question.

Why would any company buy huge numbers of used asic miners?

Or can they remold them or turn them to something that will be useful in the process of making a new latest asic miner?

Because this is the only way that this could make any sense, those companies that deal with waste products grind their irons and use them to make other things and since those Asics aren't profitable to mine anymore they are not useful for any mining company but the manufacturers who can still make use of the body components and stuff.

Am I making sense or completely wrong?

Mining companies buy electricity in volumes up to the consumption of a certain amount of power every month. These prices take into account seasonal price changes. I don’t think it’s possible to conclude such an agreement for several months. And it takes time to connect large capacities for mining.

I do not think that this is what happens to mining devices or any old ASICs because they are limited to use for one purpose, so storing them means that their value will decrease. These companies will sell and replace any ASICs if they do not generate profits, so selling them at a cheaper price to a party that may have cheaper electricity and will want to buy them would be better than store it for a year or two and then they may not be able to sell it and have to pay additional costs to dispose of it.


Not only Russia, but in some seasons of the year, such as the flood season, electricity may be much cheaper, but it is rare to find someone who buys it in large quantities.

In some hospitals and big companies with lots of equipment in use, when there are new machines or when machine and equipment have been used for so long the company can decide to retire these machines, and how do they do this? they pack up these machines and keep them in a conducive store room.

They can remain there or the company may later decide to auction them.

If this report is correct, then you know in which countries the sale will begin.
https://bitcointalksearch.org/topic/m.63708861
In Russia, I know telegram channels where you can buy any ASIC from old S9 to new ones, and these ASICs are bought by those who have practically free electricity.
Although I wouldn’t even use S9 ASICs even now even if I had free electricity.

yep

also minefarmbuy on telegram
and kaboomracks on telegram

they have 1000’s of units listed.

Telegram seems to be the place most mining deals and business is done. You will often see large batches of old miners (sometimes in 100's, sometimes in 1000's) advertised for sale on Telegram groups, such as the following:

https://web.telegram.org/k/#@asicMinerChannel
https://web.telegram.org/k/#@asicEasternHemisphere
https://web.telegram.org/k/#@WMEquipment

As long as nobody edits my post, I can confirm the above channels are genuine - however there are a lot of scammers on Telegram and it is important that you know what you are doing, and how to check / detect scammers.

Scott Offord manages a useful document here which lists genuine Telegram resources:

https://docs.google.com/spreadsheets/u/0/d/e/2PACX-1vSJIVfyPhI_E4IdVeU_VcZGdnrS8VcHfIxEtXD_60QJ0JCpfPRy6uY85yNbp2EzQAonLxDN2uZfrrLi/pubhtml?gid=0&single=true&pli=1

AND... there is a very useful Telegram Bot for checking authenticity of mining channels / users here:

https://web.telegram.org/k/#@CuratorBot

I've done a few 'big' deals on Telegram (big for me anyway), up to $90,000 and never been scammed (that is to say I've never paid for a deal and not received the goods). I've only ever bought 1 x batch of used miners though, and whilst I wasn't scammed as such, I regretted the purchase. I bought 20 x used S17 Pro, which at the time were changing hands for $2500 a piece. On arrival there were considerably less hashboards working than advertised, and many of these miners failed after a few months. I will never buy second hand again, in my opinion it's a bad move. People (including myself), tend to only sell miners once they are EOL (end of life).

I don't think they are going to dispose of these units I think they are going to sell them if they are no longer making any profit. It's too expensive to sustain a mining farm if you don't have a source to pay bills and maintenance except for those who have free power source.

I saw lots of sold units on Offordscott Telegram group, so I think some of these companies sold their units to Offordscott or used Offordscott as a broker or middleman to resell these units.

A lot depends on how many watts you have to spare.

And if you want to lose while mining ⛏️.


People do mine at a loss so getting a s19 pro 110t at 900 bucks looks good to them.

If you get it today and you have “free” power you will earn 2x the coins for 40-50 days.

but this is a very limited buy factor.

who  has 75 kwatts for free each day of the month. that is about 2250 kwatts a month.

After the halving, many ASIC models will either become unprofitable or give very little profit. And in order for large companies to use all the power for maximum profit, they will turn off thousands of old ASIC models.
And what will happen to these ASICs next?
Will they be sold to other countries or disposed of?

If you want to buy a used ASIC now, don't do it. After halving there will be a big discount on such ASICs on the market.