It is estimated that the median cost of extracting a single bitcoins increased above USD 70,000 in the second quarter, when miners move in the augment in network prices and energy prices.
According to For a report from Monday from the Bitcoin Gining, Theinermag research company, the Bitcoin (BTC) median has already increased from USD 52,000 in the last quarter of 2024 to USD 64,000 in the first quarter of 2025. It is expected to augment by more than 9% in Q2.
“It is expected that direct production costs will exceed USD 70,000 in the current quarter,” said Theinermag in an industry update in May/June.
The growing price of bitcoin gives miners breathing
An augment of up to USD 70,000 would mean almost 9.4% growth, potentially pressing on less productive bitcoin miners when their profit margins shrink.
Because Bitcoin trads around USD 107,635, most miners still have a sufficient buffer – although the estimates of production costs do not include, among others, the depreciation value of the mining platform and factors in bitcoins rented to customers.
Maintaining low fleet costs is the highest priority
With the augment in mining production costs, public companies focused on maintaining as productive as possible, especially when it comes to their fleets – the cost of computing force to extract Bitcoins, “noted TheMinermag.
In the first quarter of the Median Fleet Hashcost from public miners kept around USD 34 behind Petahash per second (ph/s). However, according to the report, some companies, including Terawulf and Bitdeer, recorded an increase in production costs by over 25%.
Terawulf said that the increase was primarily caused by the rising energy costs, which increased to $ 0.081 per kilowatt hour (kWh) in the first quarter, almost twice as much than USD 0,041 per kWh reported in Q1 2024.
Mining shares divided as a diversification of investors’ revenues rewards
Meanwhile, the Bitcoin mining actions will diverge, because investors are increasingly favorable to companies with revenue streams outside Bitcoin mining, he said inermag.
While Bitcoin increased by 1.35% between May 4 and June 13, Iren (Iren) increased by 21.4% in the same period, with basic scientific (COZ), digital bit (BTBT) and CIFERU (CIFR) extraction, also publishing double profits.
Whereas Canan (Can) and Bitfarms (Bitf) were the worst performers, each of which fell by over 21%.
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“The spread between the upper and lowest mining shares has significantly expanded, emphasizing the growing concentration of investors on diversification of revenues outside the extraction of bitcoins.”
Hosting services and high -performance computing services belong to the main operations in which Bitcoin miners have ventured in recent months.
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