Mining is getting more expensive, but Bitcoin is still in the green! 💰🔌

CoinShare experts have recorded new figures for BTC mining in Q3 2024: the cost of mining has risen to $55,950 (+13% compared to Q2). However, miners are not disheartened – the average profit stands at 83%! 🚀

🥇 Marathon – the leader in efficiency: only $42,864 for 1 BTC.
🥴 Meanwhile, Argo spends over $90,000 on a coin and comes in last.

Why is mining becoming more expensive?

Increased decentralization of mining 🌐

Rising electricity costs ⚡

The hype around AI has slowed down scaling 💻

Main expenses for miners:
1️⃣ Electricity 🔋
2️⃣ Equipment wear and tear ⚙️
3️⃣ Additional non-core costs 💸

What about the environment? 🌱
The eco-campaign “Change the Code” by Greenpeace USA has been shelved, unable to withstand the pressure of reality. It seems that BTC is going its own way! 🔗

Conclusion: Mining the first cryptocurrency is more challenging, but those who know how to count are in luck! 🍫

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