- But the price of 1 TH/s in dollars will also increase
- If the price of BTC continues to rise, most miners’ shares will jump
This year, the cost of mining one bitcoin in the US will rise from $5-10 thousand to $17 thousand. This follows a new report from analyst portal Hashrate Index.
Correlation with tariff changes
The U.S. Consumer Price Index rose 6.4% last year. At the same time, utilities have increased the cost of electricity by an average of 10.71%..
The data varies by state, but in the vast majority of cases the change in the rate was notable:
And here is how the breakdown by state looks based on the cost of mining 1 BTC:
As you can see, the most profitable cryptocurrency mining in New Mexico, Idaho, Oklahoma and Iowa. The highest electricity costs will be in Hawaii. It costs $114,587 to mine 1 BTC here.
It is notable that in Arkansas ($19,786), lawmakers have proposed a bill to protect the rights of miners. Similar regulations are pending in Missouri ($21,269) and Montana ($29,765).
Judging by the numbers, Arkansas is still the best place to move a mining farm, although the rate is not the lowest in the country.
Change in price per TH/s
The figure (TH/s/d) has increased by 31% since the beginning of the year due to the BTC rate hike. This can be seen in the graph:
This means that miners’ revenues are expected to grow. But higher operating costs coupled with lower margins due to impending halving could significantly impact the industry and even force some counterparties to leave the states.
But this can be avoided if the BTC rate continues to rise:
“If bitcoin prices increase another 40%, to $42 thousand, we expect the stock price of most miners to increase by 50%.. For large counterparties, the growth will be even more noticeable – up to 150%.”