Bitcoin mining costs rise by 47 % to 137 thousand dollars in the fourth quarter amid the high costs of inputs and tax liabilities

Average cost to extract one bitcoin (BTCIt increased sharply in the fourth quarter of 2024, when it reached 82,162 dollars between miners listed in the public list, which represents a quarterly increase by 47 %, according to another Coinshares industry a report.

The report indicated that the deployment of accelerated devices, tax expenses, and the increase in non -cash fees related to consumption and stock -based compensation are the engines behind this cost increase.

except Cotton 8That recorded large tax expenses related to unreasonable gains, the average cost of money was $ 75767. When including non -cash expenditures, the average total production cost increased to $ 137,018 per bitcoin.

Coinshares attributed the high costs of inputs to the rotation of devices faster and increased competition, which is doubled by the volatility of market prices and complications of compressed evaluation throughout the sector.

Efficiency gains and cost reduction

HUT 8 reported the highest cost of a unit in the data group due to the postponed tax commitment of $ 93 million and high interest expenses of transfer capable notes and credit facilities. As a result, the total cost of each by forming $ 281,000 per quarter.

The 968 BTC company pledged to provide financing for 30,000 Antminer S21+ ASics, with the aim of expanding its self -segmentation rate to 25.1 Exhashes in the second (EH/S) with an expected fleet efficiency of 16 joules per terash (J/th).

Throughout the sector, consumption remains one of the most influential expenses. Unlike traditional industries, as equipment decreases due to physical use, ASics decreases because they have become outdated due to rapid technological developments.

Miners must upgrade their devices frequently to maintain competitiveness, which speeds up the surplus of non -engraving and presses the margins.

Despite inflation at the sector level in mining costs, a few companies have reduced the costs of each composition in the fourth quarter.

Cleanspark Reducing comprehensive costs by 13 % and cash costs by 15 %, with a 56 % increase in the widespread retail rate, operational operation (98 %), and fleet efficiency improvements to 18 J/th.

In addition, operating expenses such as SG & A and stock -based compensation fell. Irene Reducing the costs of electricity in the child’s facility by turning to immediate pricing, which reduced the electricity costs per bitcoin by 39 % to 21,400 dollars.

The company increased the operating division rate from 12.2 to 22.6 EH/S in the fourth quarter and reported the average efficiency of the fleet 15 J/th. Cormint reduced the total mining costs by 44 % over a quarter, with the help of a decrease in energy prices to 1.8 ¢/KW.

Costing and industry expectations

Coinshares data shows that electricity remains the largest component in direct mining costs. However, non -cash elements, such as consumption and extinguishing, contribute greatly to the total cost structures.

Companies like Mara Holdingsand Craft miningAnd Riot control platforms Reports of relatively balanced cost profiles, but the high costs of inputs in all fields have narrowed profit margins.

The charts submitted in the Coinshares report indicate that most miners are still able to work profitable in the fourth quarter, as the average bitcoin price remained approximately $ 82,000.

However, expectations for the second quarter indicate the next opposite wind. Customs tariff increases on imported platforms from China and Malaysia from 24 % to 54 %, may raise the costs of future tie for workers who depend on foreign equipment.

The data also shows that the complications of the evaluation of miners are pressing, which reflects the expectations of the zero dynamics in the competition in the retail rate.

In response, some miners re -customize the capital to the HPC data and computing infrastructure (HPC) to diversify revenue flows beyond block bonuses and transactions.

The industry continues to improve devices efficiency, as the average new ASIC models are 20 watts per teahash (W/th), which has improved five times since 2018.

This has kept the total use of the network energy stable, even with the rise in the retail rate to 900 EH/S by the end of the year. Coinshares is now showing that the network will cross the one zetahash threshold (ZH/s) by mid -2015.

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