Inside the Rising Direct Cost of Bitcoin Mining

June 2, 2022, 12:42PM EDT

• 11 min read

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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