Rising Bitcoin mining costs impact profits: In Q3 2024, Bitcoin mining costs have escalated by 13%, averaging 55,950 USD per BTC. Total expenses jumped to 106,000 USD per BTC, stressing miners as profits shrink amid price pressures and resource scarcity.

Electricity costs rise in Texas: Higher electricity prices, especially in Texas, have severely impacted Bitcoin mining operations. These increased operational expenses, exacerbated by extreme weather and regulatory changes, challenge miners’ profitability and operational sustainability.

Marathon leads in mining efficiency: Among public mining companies, Marathon Digital Holdings stands out as the most cost-effective operator, utilizing favorable tax incentives and operational improvements. Conversely, firms like Riot face challenges due to escalating costs and stiff competition.