MegaBigPower has announced that it will begin purchasing preowned bitcoin mining ASICs as part of a plan to acquire as much as 10 megawatts worth of hardware.
Founder Dave Carlson framed the program as a simpler alternative for miners looking to sell their equipment online, telling CoinDesk:
Carlson noted that some types of hardware, including HashFast and Butterfly Labs ASICs, as well as independently designed mining rigs, will not be accepted, as will any machine incapable of being underclocked.
“We are not familiar with all the products out there, but we are willing to look at what people have,” he said.
Interested parties should submit an online form on the company’s website, after which time MBP will review the submission and make an offer if applicable. Shipments, Carlson explained, take place after an offer has been made and a purchase agreement between the prospective seller and MBP is signed.
Sellers will also recoup shipping costs, Carlson said. He added that he hoped the program would enable some former miners the chance to recoup losses they may have experienced as the price of bitcoin fell and profitability dwindled as a result.
“I'm hoping this program will keep enthusiasts and investors involved with bitcoin on a positive note and not leave them feeling burned,” said Carlson.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.