TechFlow reported on October 31, according to Bitcoin.com News, CoinShares' latest Q3 mining report shows bitcoin mining costs have risen to record levels. If counting only cash expenses, the production cost per bitcoin is approximately $49,500; including additional expenses such as depreciation and stock-based compensation, the average cost reaches as high as $96,100. Chief Researcher James Butterfill noted that despite elevated costs, miners continue expanding infrastructure and planning further investments in anticipation of future price increases.
In the current market environment, direct investment in bitcoin may yield higher returns than mining. CoinShares suggests mining companies should diversify revenue streams, such as investing in AI technologies. Affected by high interest rates and cryptocurrency market volatility, mining firms face constrained financing channels and often raise capital through stock issuance. The firm projects that by 2050, as miners shift toward more environmentally sustainable energy practices, carbon emissions could decrease by 63%.
Previous report, the global bitcoin network hash rate once exceeded 800 EH/s, reaching 803.75 EH/s, hitting a new historical high; the current seven-day average network hash rate stands at 749.05 EH/s.
