Bitcoin production costs up 9% on higher hashrate, energy prices

The median cost of mining a single Bitcoin was only $52,000 in Q4, but jumped 23% in the first quarter and has risen again in Q2.

The median cost of mining a single Bitcoin is estimated to have climbed above $70,000 in the second quarter as miners navigate a rise in network hashrate and energy prices. 

According to a report on Monday from Bitcoin mining research firm TheMinerMag, the median cost of producing Bitcoin (BTC) already rose from $52,000 in the last quarter of 2024 to $64,000 in Q1 2025. This is expected to increase by over 9% in Q2.

“Direct production costs are expected to surpass $70,000 in the current quarter,” TheMinerMag said in its May/June industry update.

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