Bitcoin Mining Costs Hit $75,500 as AI Pivot Sticks: CoinShares
Public miners shelled out an average cash cost of $75,500 per bitcoin in Q2, and CoinShares says price rallies won't lure back those shifting to AI.
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Key takeaways
- Publicly listed miners spent an average ex-tax cash cost of roughly $75,500 to produce one bitcoin in Q2.
- CoinShares reports a price recovery is unlikely to bring AI-focused miners back to crypto.
- Rising expenses continue to push public mining companies toward alternative compute workloads.
Mining Bitcoin is getting painfully expensive. Publicly listed miners shelled out an average ex-tax cash cost of roughly $75,500 to produce a single bitcoin in the second quarter, according to data from asset manager CoinShares.
The AI Pivot Is Here to Stay
Even if Bitcoin's price bounces back, don't expect companies that shifted infrastructure to artificial intelligence to return to pure crypto mining. CoinShares noted that a price recovery is unlikely to lure AI-focused miners back into the fold.
Why it matters
A $75,500 production baseline puts massive pressure on miner profit margins. If public mining companies stick with AI workloads rather than turning their rigs back to crypto during price surges, it could permanently alter how public firms allocate capital and build out data centers.
Source: The Block
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Priya Nair
Priya covers the AI side of crypto — agent tokens, decentralised compute and where the two industries actually meet.
