#TariffsPause

🚨📣: CoinShares Industry Reports indicate that Bitcoin mining costs rose 47% in the fourth quarter of last year, reaching $137,000.

This increase is attributed to increased hardware usage, tax expenditures, and non-cash charges related to depreciation and stock-based compensation.

Cash costs include an average of $75,767, and when non-cash expenses are included, the total average reaches $137,018 per Bitcoin.

The report also indicates that hardware turnover, intense competition, and market price volatility are contributing to increased input costs.

However, some companies, such as CleanSpark, Irene, and Cormint, have managed to reduce their costs.

Electricity remains the largest component of costs, but depreciation and amortization also play a significant role. Companies face future challenges, with rising tariffs and valuation multiples weighing on mining companies.