Here's How Much It Costs to Mine 1 Bitcoin
(BTC).
Mining Bitcoin costs money, and it's
getting pricier for miners considering the most recent reward halving. CoinShares tells us it's about $53,000 to mine one Bitcoin
these days, and that!'s an average that
large mining companies spend on one BTC.
For those who don't know, halving means
miners get half the Bitcoin they used to get
for decoding blocks that contain data
about the Bitcoin network. Because they'l
be getting less Bitcoin, what it costs to run
their mining machines, mostly the electricity, could feel like it's doubled.
And there's more: experts think the total power of Bitcoin mining might jump up to 700 Exahash by 2025. A whole lot more power will be needed to run the Bitcoin
network. But right after the halving, some
less profitable mining machines might get
turned off, dropping that number by about
10%.
There's a bright side, though. Some smart
miners are moving to places where they
can get cheaper, often wasted energy, like
gas that would be burned off anyway. And
they're starting to use Al to make more money in countries where energy is stable
and not so expensive. This could be a
game-changer that would fuel the network
in the foreseeable future.
So, after the halving, the cost of mining a
Bitcoin could go even higher. The miners'
bills for things like electricity and the machines themselves might almost double
on paper, while the price for Kw/h stays the same. They're trying to deal with this by getting better deals on their gear and finding cheaper power.
They're using extra cash from the bullrun
and cheap mining cost to pay off debts and
getting ready fora shift in the miners' market.
