Increasing cost of mining Bitcoin due to rising network hashrate and energy prices

From Cointelegraph

June 16, 2025 9:56:00 pm:

The cost of mining a single Bitcoin has surged to over $70,000 in Q2, up 9% from the previous quarter. Rising network hashrate and energy prices are driving the increase, potentially squeezing less efficient miners. Despite this, with Bitcoin at $107,635, most miners still have a comfortable buffer.

Public mining companies are focusing on efficiency as mining costs rise. Fleet hashcost remains steady at $34 per petahash per second, but some firms are seeing costs jump by over 25%. Terawulf cited rising energy costs as a major factor, nearly doubling from Q1 2024 to Q1 2025.

Investors are favoring mining stocks with revenue diversification beyond Bitcoin mining. While Bitcoin rose 1.35% from May 4 to June 13, IREN surged 21.4%, with Core Scientific, Bit Digital, and Cipher Mining also posting gains. Canaan and Bitfarms, however, fell by over 21% during the same period.

Read more at Cointelegraph: Bitcoin Production Cost To Rise 9% By Q2’s End