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Bitcoin Production Costs Hit $49,500 as Wall Street Miners Face Margin Squeeze
Publicly listed Bitcoin (BTC) miners from Wall Street are grappling with escalating production costs, with the average expense to mine one token reaching $49,500 in the second quarter, highlighting the growing challenges in the cryptocurrency mining sector. The increasing costs, driven by rising electricity prices and record-high mining difficulty levels, have forced many mining operations to pivot their business strategies. When accounting for depreciation and stock-based compensation, the total cost surges to $96,100 per bitcoin, putting significant pressure on miners' profit margins. “The Bitcoin mining industry ... (full story)