Today, the value of one Bitcoin has risen back to around $94,000 and is higher than $75,000 earlier this month. According to Coinshares, all this may soon be meaningless as the cost of mining one bitcoin is no longer profitable. So, what should you know about it?
For your information, the average cost of mining in Q4 2024 is $82,162, which is 47% higher than the $55,950 in Q3 2024. But when other external costs are taken into account, the actual average cost of mining increases to $137,018. But the cost varies by country. If done in Germany, it increases to almost $200,000 due to higher electricity rates.
Additionally, this makes Bitcoin mining activities on a small scale, and individuals are now only profitable. Only commercial operations by large companies can generate profits because external costs will be reduced. For those who still want to continue mining, profits can still be generated by mining cryptocurrencies other than Bitcoin.
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