CoinShare experts reported that the cost of mining one bitcoin in the third quarter of 2024 reached $55,950. Mining the first cryptocurrency brings companies a profit of 83%, analysts said.
Compared to the second quarter, when companies spent an average of $49,500 to mine one BTC, mining costs increased by 13% to $55,950.
The first place in terms of asset mining efficiency was taken by Marathon, spending approximately $42,864 to obtain one bitcoin. In last place for this indicator in the CoinShare list was Argo, which spends over $90,000 on a coin.
The increase in cryptocurrency mining costs in July-September was due to increased decentralization of mining, rising electricity costs and a slowdown in the scaling of digital assets due to the hype around artificial intelligence (AI) technology, experts said.
The list of the main cost items for miners included electricity costs, losses from equipment wear and tear, and costs not related to the main production, experts summed up.
Earlier, blockchain analyst and crypto enthusiast Daniel Batten said that the office of the environmental organization Greenpeace in the United States has curtailed the “Change the Code” campaign aimed at combating environmental pollution from mining the first cryptocurrency.
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Source: Cryptocurrency

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