According to BlockBeats news, on October 31, Bitcoin.comNews quoted CoinShares’ latest third-quarter mining report as showing that Bitcoin mining costs have climbed to record levels. If only counting cash expenses, the production cost of each Bitcoin is approximately US$49,500; if additional expenses such as depreciation and stock compensation are included, the average cost is as high as US$961,00. Lead researcher James Butterfill noted that despite high costs, miners are expanding infrastructure and planning further investments in anticipation of future price increases.
According to previous news, the computing power of the entire Bitcoin network once exceeded 800 EH/s, hitting 803.75 EH/s, a record high; the current average computing power of the entire network in the past seven days is 749.05 EH/s. Affected by high interest rates and crypto market fluctuations, mining companies have limited financing channels and mostly raise funds through stock issuance.
CoinShares recommends that mining companies should explore diversified sources of income, such as investing in AI technology. The agency predicts that by 2050, carbon emissions will be reduced by 63% as miners shift to more environmentally friendly ways of using energy.