INSUBCONTINENT EXCLUSIVE:
The median cost of mining a single Bitcoin is estimated to have climbed above $70,000 in the second quarter as miners navigate a rise in
producing Bitcoin (BTC) already rose from $52,000 in the last quarter of 2024 to $64,000 in Q1 2025
said in its May/June industry update.The implied cost of Bitcoin production by company
pressuring less efficient Bitcoin miners as their profit margins shrink.With Bitcoin trading at around $107,635, most miners still have a
earned from machines that are rented out to clients, among other things.Keeping fleet costs low is a top priorityWith mining production
costs on the rise, public companies have been focused on keeping their operations as efficient as possible, particularly when it comes to
held steady at approximately $34 per petahash per second (PH/s)
increase was primarily due to rising energy costs, which spiked to $0.081 per kilowatt-hour (kWh) in Q1, nearly double the $0.041 per kWh
reported in Q1 2024.Mining stocks split as investors reward revenue diversificationMeanwhile, Bitcoin mining stocks have been diverging as
investors increasingly favor firms with revenue streams beyond Bitcoin mining, TheMinerMag said.While Bitcoin increased 1.35% between May 4
and June 13, IREN (IREN) soared 21.4% over the same time frame, with Core Scientific (CORZ), Bit Digital (BTBT), and Cipher Mining (CIFR)
also posting double-digit gains.In contrast, Canaan (CAN) and Bitfarms (BITF) have been the worst performers, each falling by over
21%.Related: Early Bitcoin adopter says BTC could have another 100X cycleChange in share price of top public Bitcoin miners since May 4
operations that Bitcoin miners have ventured into in recent months.Magazine: Baby boomers worth $79T are finally getting on board with
