The upcoming Bitcoin halving in April 2025 is reshaping the global mining landscape. With block rewards set to drop from 6.25 BTC to 3.125 BTC per block, miners are facing a significant revenue cut—triggering strategic shifts across the industry. As electricity costs dominate operational expenses, major U.S.-based mining firms like Marathon Digital and Riot Platforms Inc. are reevaluating their hardware strategies to maintain profitability.
This pivotal event has accelerated the retirement of older mining rigs in high-cost energy markets, particularly in the United States. Instead of scrapping them, many operators are selling or relocating these machines to countries with cheaper electricity—unlocking continued value from aging equipment.
The Global Shift of Used Mining Equipment
While newer, more energy-efficient models such as the latest-generation ASICs dominate new investments, older models like the Bitmain Antminer S19 series still hold value—especially when deployed in regions with low electricity tariffs.
According to Taras Kulyk, CEO of SunnySide Digital, the Bitcoin halving is accelerating a growing trend: the mass resale and relocation of used mining hardware from North America to emerging markets. These second-hand units, no longer profitable in the U.S., can remain economically viable in countries where power costs are a fraction of those in developed nations.
Ethan Vera, COO of Luxor Technology—a Seattle-based crypto mining services and logistics provider—estimates that around 600,000 S19-series miners will be relocated out of the U.S., primarily to Africa and South America. Most of these machines are still fully operational, representing a substantial transfer of digital infrastructure.
Where Are the Old Miners Going?
Countries such as Ethiopia, Tanzania, Paraguay, and Uruguay are emerging as key destinations for repurposed mining hardware. In Ethiopia, for example, Hashlabs Mining—a data center operator offering托管 services for Bitcoin miners—has seen rising demand for hosting older rigs.
Jaran Mellerud, CEO of Hashlabs Mining, explains that while S19 models may no longer generate profits under U.S. electricity rates post-halving, they can still yield strong returns when hosted in parts of Africa with subsidized or low-cost hydropower. This not only extends the lifecycle of existing hardware but also supports local technological development and energy utilization.
Nuo Xu, a miner operating two facilities in Texas, plans to relocate approximately 6,000 older machines to Ethiopia and Nigeria this month. Rather than selling them outright, Xu is exploring partnerships with local data centers to continue mining operations abroad—leveraging lower overheads to sustain margins after the reward cut.
Why Electricity Costs Make or Break Mining Profitability
Bitcoin mining is fundamentally an energy-intensive computation process. After the halving, revenue per block is halved—but electricity costs remain unchanged. For miners using older, less efficient models, this equation becomes unsustainable unless power expenses are significantly reduced.
In the U.S., average industrial electricity prices range from $0.07 to $0.12 per kWh. In contrast, countries like Ethiopia offer rates as low as $0.03–$0.05 per kWh, often backed by renewable sources such as hydroelectric dams. This cost differential allows older miners like the S19 (which consumes about 3,250 watts) to remain profitable even with reduced block rewards.
Moreover, some host nations offer additional incentives—such as tax breaks or streamlined regulatory frameworks—to attract blockchain infrastructure investment. These factors combine to create favorable conditions for second-life mining operations.
👉 Learn how global miners are optimizing location-based efficiency to survive the post-halving era.
Are Pre-Owned Miner Prices Bottoming Out?
Despite the ongoing exodus, some buyers are waiting on the sidelines, anticipating further price drops after the halving event.
Lauren Lin, Director of Business Development at Luxor, notes that market sentiment suggests a potential dip in used miner values post-April 2025. Historical data supports this expectation:
- In March 2022, a used Antminer S19 was valued at around $7,030
- By early 2023, following a bear market, prices fell to approximately $900
- As of early 2025, resale values have dropped further to about $427
- Post-halving projections estimate prices could fall to $356 by May 2025
These declining figures reflect both reduced earning potential and increased supply from U.S. miners offloading equipment. However, demand from international buyers helps cushion the fall, preventing a complete market crash for used ASICs.
Extending Hardware Lifespan Through Strategic Relocation
Rather than treating old miners as obsolete, forward-thinking operators are adopting a circular economy approach—maximizing return on investment by redeploying assets instead of discarding them.
This strategy benefits multiple stakeholders:
- U.S. miners recover capital or maintain passive income streams
- Host countries gain access to advanced computing infrastructure and job creation
- Global network security remains robust as hash power doesn’t disappear—it migrates
Relocation doesn’t come without challenges, including logistics coordination, customs compliance, and technical setup in remote locations. But companies like Luxor Technology are streamlining these processes with specialized cross-border mining logistics solutions.
Core Keywords Integration
Throughout this transition, several core keywords naturally emerge due to their relevance:
- Bitcoin halving
- Mining profitability
- Used ASIC miners
- Old miner resale
- Low electricity cost countries
- S19 miner relocation
- Post-halving mining strategy
- Global mining migration
These terms reflect current search trends and user intent around hardware lifecycle management and geographic optimization in cryptocurrency mining.
👉 See how leading platforms support seamless transitions for miners navigating the halving impact.
Frequently Asked Questions (FAQ)
What happens to Bitcoin miners after the halving?
After the halving, block rewards are cut in half, reducing miner income. Less efficient miners—especially those in high-electricity-cost regions—may become unprofitable and are often sold or relocated to cheaper locations.
Can old Bitcoin miners still be profitable?
Yes, older models like the Antminer S19 can remain profitable if operated in countries with low electricity costs (e.g., below $0.05/kWh). Their efficiency improves relative to local energy pricing.
Which countries are importing used U.S. mining equipment?
Key destinations include Ethiopia, Tanzania, Paraguay, Uruguay, and Nigeria—nations with affordable power and growing interest in blockchain infrastructure.
How much has the price of used S19 miners dropped?
From over $7,000 in 2022 to around $427 in early 2025, with expectations it may drop to $356 post-halving—making them more accessible for international buyers.
Should I buy used miners before or after the halving?
Buying after the halving may offer lower prices due to increased supply from exiting miners. However, strong demand from developing markets could limit deep discounts.
Is relocating miners overseas worth it?
For operators with older hardware, yes—relocation extends machine lifespan and maintains revenue flow. It's a cost-effective alternative to liquidation.
The Bitcoin halving isn’t just a reward adjustment—it’s a catalyst for global redistribution of computing power. As U.S. miners adapt to tighter margins, the next chapter of decentralized mining may unfold far beyond its current epicenters.