CryptoQuant CEO: Average BTC Production Cost for US Companies at $43,000
CryptoNewsTerminal Staff06 Aug, 2024
CryptoQuant CEO: Average BTC Production Cost for US Companies at $43,000
CryptoQuant CEO Ki Young Ju recently revealed that the average cost of producing a single Bitcoin for miners in the United States is approximately $43,000. This statement was made in an interview with X. Ju further mentioned that Marathon Digital's latest quarterly report indicated a similar production cost of $42,969 per Bitcoin. These figures suggest that Bitcoin mining in the US is becoming increasingly expensive due to rising energy costs and the competitive nature of the industry. However, it is important to note that these costs may vary depending on the specific mining operation and its efficiency. This news is particularly relevant as the crypto market recovers, as it sheds light on the challenges faced by miners and the potential impact on the overall health of the Bitcoin network.
