Average Cost to Mine 1 BTC at BitFuFu Rises to $59,452 in Q3 2024

BitFuFu has reported a significant increase in the average cost of mining one bitcoin. In Q3 2024, expenses reached $59,452 per BTC, more than double last year’s figure of $25,618.

The rise in costs is due to increased mining difficulty and higher electricity prices. This negatively impacted operational profitability, leading to a 34% decrease in self-mining output to 340 BTC.

BitFuFu’s management is considering measures to optimize expenses and implement more efficient equipment to restore the profitability of its mining operations.