Bitcoin Mining Costs Surge to New Highs in Late 2024, Says CoinShares

Publicly listed miners faced an average production cost of $82,162 per Bitcoin, marking a sharp 47% increase compared to the previous quarter. CoinShares identified several reasons for the surge, including accelerated hardware deployments, higher tax burdens, and an uptick in non-cash expenses like depreciation and stock-based compensation. When excluding Hut 8 Mining — which faced significant tax expenses — the average cash production cost among public miners stood at $75,767. Factoring in non-cash items pushed the total average production cost to a steep $137,018 per Bitcoin source: https://coindoo.com/bitcoin-mining-costs-surge-to-new-highs-in-late-2024-says-coinshares/