CoinShares: The average mining cost of listed Bitcoin mining companies in Q3 rose to about $55,950
the average cash mining cost of listed Bitcoin mining companies in the third quarter has risen to $55,950, an increase of 13% from the second quarter's $49,500. If non-cash costs such as depreciation and equity incentives are included, the average mining cost will reach $106,000. The report pointed out that the rise in mining costs was mainly affected by three factors: the AI boom has dispersed mining company expansion funds; some mining companies focus on holding coins (HODL) rather than expanding operations; the rise in summer electricity costs in Texas has affected mining production. In terms of specific mining company performance, Marathon has become the mining company with the lowest cash cost, mainly benefiting from the increase in Bitcoin production and tax incentives; TeraWulf's cost has decreased by 20% due to a significant decrease in debt expenditure, ranking third; Riot's operating efficiency has improved, but it still slipped to seventh place.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Chinese Company Cango Becomes Third Largest Bitcoin Miner
US imposes sanctions on individuals and firms linked to North Korea
Coingecko Expert Examines the 'Santa Claus Effect' on the Crypto Market
Avalanche9000 Upgrade Goes Live, Boosting Web3 Development
Avalanche, a fast-growing blockchain, has just launched its biggest upgrade ever, called Avalanche9000.