CoinShares Mining Report: The Halving and its impact on hash rate and miners cost structures
The Bitcoin mining network has experienced meteoric growth, with an increase in hashrate of 104% in 2023. This rapid expansion raises concerns regarding its sustainability, both from an environmental standpoint and in terms of the mining network’s profitability. In this document, we aim to address both of these important issues. Our final results of the average cost of production per Bitcoin, post halving for each miner are listed below, highlighting the average cost of production is US$37,856.
