#BitcoinWarnings
According to PANews, a recent report from CoinShares reveals that the average cash cost to mine a single Bitcoin by publicly traded mining companies rose to $82,162 in the fourth quarter of 2024, marking a 47% increase compared to the previous quarter.
The hash rate of the Bitcoin network also experienced significant growth, reaching an all-time high of 900 EH/s during the same period, with projections indicating it will exceed 1 ZH/s by July 2025.
In response to the increasing competition, several mining companies are making a strategic transition towards data center infrastructure and high-performance computing hosting services.
CoreScientific has allocated 43% of its capacity to artificial intelligence (AI) operations, while Cipher Mining plans to dedicate 35% of its future capacity to the AI sector. This shift highlights the industry's adaptation to evolving technological demands and the pursuit of diversified revenue sources.
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