CoinShares: Bitcoin mining costs hit a record high of $49,500

Bitcoin mining costs have climbed to record levels, according to CoinShares' latest third-quarter mining report, quoted by Bitcoin.comNews. The cost of producing each bitcoin is around $49,500 when cash expenses alone are taken into account; the average cost is as high as $961,00 when additional expenses such as depreciation and stock compensation are included. Lead researcher James Butterfill pointed out that despite the high costs, miners are still expanding infrastructure and planning further investments in anticipation of future price increases.
Previously, it was reported that the computing power of the bitcoin network once exceeded 800 EH/s, reaching 803.75 EH/s, a record high; the current average computing power of the whole network in the past seven days is 749.05 EH/s. Affected by high interest rates and fluctuations in the crypto market, mining companies have limited financing channels, and most of them raise funds by issuing stocks.