Overview

• The cost to mine a single Bitcoin has risen to $137,000 for smaller U.S. miners, while large operators face costs of $82,000, leaving only slim profit margins.
• Bitcoin's market price currently hovers around $94,000 to $95,000, making mining unprofitable for most small and mid-sized operations.
• The April 2024 halving event reduced block rewards, increasing mining difficulty and production costs by approximately 47% since Q3 2024.
• Global energy price disparities have reshaped the mining landscape, with costs ranging from $1,324 per Bitcoin in Iran to over $321,000 in Ireland.
• Large mining firms are pivoting to alternative uses, such as artificial intelligence and high-performance computing services, to offset losses from mining.