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Experts from CoinShare reported that the cost of mining one bitcoin in the third quarter of 2024 reached $55,950. The mining of the first cryptocurrency brings companies a profit of 83%, analysts said.
Compared to the second quarter, when companies on average spent $49,500 to mine one BTC, mining costs have increased by 13% to $55,950. Marathon, which spends approximately $42,864 to obtain one bitcoin, took first place in terms of mining efficiency. Argo, which spends over $90,000 per coin, ranked last on the CoinShare list in this indicator.
The increase in cryptocurrency mining expenses from July to September was due to the increased decentralization of mining, the rising cost of electricity, and the slowing down of digital asset scaling due to the hype around artificial intelligence (AI) technology, experts said.
The main cost items for miners include electricity costs, equipment depreciation losses, and non-core production costs, according to experts.
Earlier, blockchain analyst and crypto enthusiast Daniel Batten stated that the Greenpeace office in the USA has ended the 'Change the Code' campaign, which aims to combat environmental pollution from mining the first cryptocurrency.
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