How Does the Obsolescence Cycle of ASICs Affect the Market for Second-Hand Mining Hardware?

ASICs have a rapid obsolescence cycle, typically becoming economically unviable every few years due to the release of newer, more efficient models. This creates a volatile secondary market where older, less efficient units are sold, often to miners in regions with extremely low electricity costs.

The price of second-hand hardware is highly dependent on the current cryptocurrency price and network difficulty.