According to Odaily, prominent figures in the cryptocurrency mining industry, Shen Yu and F2Pool, have highlighted concerns regarding the profitability of Bitcoin mining. They stated on platform X that with Bitcoin priced at $54,000 and electricity costs at $0.07 per kilowatt-hour, ASIC miners with a power consumption of 23 W/T or higher would operate at a loss.

This analysis underscores the critical impact of electricity costs on the viability of Bitcoin mining operations. As the price of Bitcoin fluctuates, miners must continuously evaluate their operational costs to ensure profitability. The statement from Shen Yu and F2Pool serves as a reminder for miners to consider energy efficiency and cost management in their operations.

The cryptocurrency mining sector is highly sensitive to changes in both Bitcoin prices and electricity rates. Miners using less efficient equipment may find it increasingly challenging to remain profitable, especially in regions with higher energy costs. This situation emphasizes the importance of technological advancements and strategic planning in the mining industry.