By Jonathon Aylward-Smith BBC Sport’s business editorPomona Mining has been working to reduce the price of its bitcoin mining hardware, a move that could be key to the growth of bitcoin mining in Australia.
Bitcoin mining hardware can be bought from a number of retailers, and the latest models are priced below the $2,000 mark.
Pomora CEO Tom Tisdale said the price reduction was not just a result of improving the quality of the product, but also the lower prices of other bitcoin mining equipment.
“We’ve been working on this for about a year, and I think that the first half of this year is where we were starting to see the real price drop of the bitcoin mining machines,” Mr Tisdales said.
“For the price to be below $2k you need a good product, a good quality product, and a good value for the money.”
So, this is what we’re trying to do.
“Bitcoin mining equipment can be purchased from a range of retailers including Amazon, eBay and Newegg, and Mr Tiddale said a number customers were keen to get their hands on the latest machines.”
Our first batch of miners came in from the USA,” Mr Risto said.
Purchasing an online bitcoin miner is a relatively new development for Mr Tiddleys.”
It started in 2016 when there was a lot of hype around bitcoin and it’s kind of a niche,” he said.”[But] the demand for bitcoin mining has been increasing exponentially.
“When we started, the price was about $30,000.
Then it went up to $60,000 a month.”
Mr Ristos said while the average price of a bitcoin mining machine was currently $2.40, it was increasing quickly.
“The next batch is expected to come in from Japan in the next month or so,” he added.
“People are looking for a way to do more with their bitcoin and that’s why it’s a trend that’s going to continue.”
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