PANews reported on October 31 that Bitcoin.com cited CoinShares' latest third-quarter mining report, showing that the cost of Bitcoin mining has climbed to a record level. If only cash expenditures are calculated, the production cost of each Bitcoin is about $49,500; if additional expenses such as depreciation and stock compensation are included, the average cost is as high as $961,00. Chief researcher James Butterfill pointed out that despite the high costs, miners are still expanding their infrastructure and plan to invest further in anticipation of future price increases.
CoinShares recommends that mining companies should explore diversified revenue sources, such as investing in AI technology. The agency predicts that by 2050, carbon emissions will be reduced by 63% as miners switch to more environmentally friendly energy use.
