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In what has been a busy few days in the mining hardware world — both Canaan Creative and Ebang very recently announced their respective next-generation lines of miners — Bitmain decided to join the party by doubling the price of their flagship Antminer S9.

Antminer S9 Shipping in late February 2018 and already sold out

Now priced at US$2,725, this latest 13.5 TH/s batch of S9s is scheduled to ship in late February 2018.

“Complete Dick Bags”

Antminer S9 Asic Miner

Antminer S9-13.5TH/s – Source link

The Bitcoin mining community did not take this news well.

Bitcoin Forum user MantaMine perhaps summed up the prevailing sentiment best by calling Bitmain “complete dick bags.” Also adding to the community’s dissatisfaction and utter contempt for Bitmain was Bitmain’s continued use of Bitcoin Cash as the only acceptable mode of payment on their web store.

In that vein, some speculate (and hope) that this move on Bitmain’s part may backfire, i.e., potential customers would balk at the doubling in price and instead source their miners from Bitmain’s competitors instead, therefore weakening Bitmain’s current stranglehold over the mining hardware market.

Aaand… It’s Gone.

Less than 24 hours after Bitmain doubled the price, the S9s sold out. If anything, I’d say that this is but a mere subset of the irrational exuberance (to quote Alan Greenspan) that has permeated, gripped, and buoyed the Bitcoin market at large. No price is too high for these folks, not while Bitcoin goes “to the moon.”

Still, what goes up must come down. And Bitcoin’s turn is coming.