Data: The average cash cost to mine one Bitcoin has reached $74,600

According to the latest data from CryptoRank.io, the average cash cost of mining one Bitcoin has reached $74,600, and the total cost, including depreciation and stock-based compensation (SBC), is as high as $137,800.

As the network's hash rate breaks the symbolic milestone of 1 ZH/s, competition in the industry intensifies, and mining profit margins are plummeting. This shift is driving many public miners to reallocate their computing power to artificial intelligence (AI) and high-performance computing (HPC) workloads, as the profit margins in these areas are significantly higher than traditional Bitcoin mining.

The industry is diverging into two distinct business models: Infrastructure providers: transforming mining data centers for high-profit computing tasks; Traditional miners: continuing to operate in a more competitive, near-zero profit environment.

Analysts point out that the high mining costs also reflect the scarcity of Bitcoin, which may be one of the factors driving the current price increase.