Inside the Rising Direct Cost of Bitcoin Mining
Quick Take
- Due to the network hashrate growth and evolving macroeconomic conditions, the direct cost of bitcoin among mining institutions has risen sharply over the first quarter of 2022.
- If the crypto market continues a bearish outlook, a new round of consolidation in the mining industry could take place in the near term as the gross profit margin keeps being squeezed.
- In this piece, we dive into the numbers provided by a dozen public mining companies in their latest earnings reports and conference calls.
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Author: Wolfie Zhao
