It now costs (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to Bitcoin mining data resource Hashrate Index and Luxor.
Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs.
Average industrial rate rise between January 2022 and 2023. Source: EIA/Hashrate Index/LuxorBitcoin hashprice (in the dollar terms). Source: Hashrate Index/LuxorPower cost to produce 1 BTC across U.S. states. Source: EIA/Hashrate Index/LuxorForecasts for wholesale electricity prices in the U.S. Source: Hashrate Index/Luxor/EIABitcoin mining stocks performance in 2023. Source: Hashrate Index/Luxor/EIA
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