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John Wang
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Crypto
April 15 16:00

Bitmain will pay compensation to miners

The buyers of overpriced machines will get a partial refund.
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Bitmain - the ASIC company based in Beijing - announced a refund program. Now customers that ordered new mining machines before the prices were cut.
The buyers of AntMiner S17+ machines, as well as T17+ models, that were scheduled for delivery from the middle of February until the end of April, will get redeemable coupons worth from US$17 to US$272 for each unit. The exact amount of compensation depends on the order specifics. 
Buyers can use the coupons to buy other Bitmain devices. Usually Bitmain makes its sales based on pre-orders. The customers pay full price after the delivery is made, which takes 2-3 months.
The long delay led to a number of buyers paying much more, than the machines are worth now. Following the market crash that took place on March 12, the producers have been cutting prices of their equipment.