Mining is getting more expensive, but Bitcoin is still in the green! 💰🔌
CoinShare experts have recorded new figures for BTC mining in Q3 2024: the cost of mining has risen to $55,950 (+13% compared to Q2). However, miners are not disheartened – the average profit stands at 83%! 🚀
🥇 Marathon – the leader in efficiency: only $42,864 for 1 BTC.
🥴 Meanwhile, Argo spends over $90,000 on a coin and comes in last.
Why is mining becoming more expensive?
Increased decentralization of mining 🌐
Rising electricity costs ⚡
The hype around AI has slowed down scaling 💻
Main expenses for miners:
1️⃣ Electricity 🔋
2️⃣ Equipment wear and tear ⚙️
3️⃣ Additional non-core costs 💸
What about the environment? 🌱
The eco-campaign “Change the Code” by Greenpeace USA has been shelved, unable to withstand the pressure of reality. It seems that BTC is going its own way! 🔗
Conclusion: Mining the first cryptocurrency is more challenging, but those who know how to count are in luck! 🍫
