The cost of creating Bitcoin has increased by 9% due to the high hashrate and energy prices.

The average cost to mine 1 Bitcoin has exceeded 70,000 USD in Q2 2025, according to a report from TheMinerMag. This figure has increased from 64,000 USD in Q1 and 52,000 USD in Q4 2024, due to the increase in network hashrate and electricity prices. Although the price of Bitcoin is currently around 107,635 USD, it still provides profits, while less efficient miners are under pressure.

Mining companies are focusing on optimizing costs, especially hashfleet costs – keeping it at an average of 34 USD/PH/s. Some, like Terawulf and Bitdeer, reported costs increasing by more than 25% due to high electricity prices.

Bitcoin mining stocks are experiencing strong divergence, as investors prioritize companies with revenue streams outside of mining. IREN increased by over 21%, while CAN and BITF dropped by more than 21%. Many miners are transitioning to providing AI services and high-performance computing.