dreamers
@dreamers
The Bitcoin mining industry is facing some tough times, with the average cost to produce a BTC reaching $96,100 for publicly traded miners when including non-cash costs such as depreciation and stock-based compensation, according to a report by CoinShares analyst James Butterfill. As the data shows, average cash costs rose to $49,500 per BTC in Q2, 2024, up from $47,200 in Q1, and there's no stopping it. The reason is that mining conditions are becoming more complex and capital intensive.
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