According to a report by Golden Finance, citing CoinShares' latest third-quarter mining report, the cost of Bitcoin mining has risen to record levels. If only cash expenditures are considered, the production cost per Bitcoin is about $49,500; if additional expenses such as depreciation and stock compensation are included, the average cost is as high as $961,000. Chief Researcher James Butterfill noted that despite high costs, miners are still expanding infrastructure and planning further investment in anticipation of future price increases. Previously, Bitcoin's total network hashrate once exceeded 800 EH/s, reaching 803.75 EH/s, a historical high; the current average hashrate over the past seven days is 749.05 EH/s. Due to high interest rates and volatility in the crypto market, mining companies' financing channels are restricted, with many raising funds through stock issuance.

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