According to Hashrate Index experts, in August and September, public Bitcoin mining companies sold fewer Bitcoins than they mined, something that has not happened since May.
In June, public miners liquidated a total of 23% of their Bitcoin reserves, netting 14,600 BTC. Companies sold 5,767.9 BTC in July against a cumulative production of 3,478 BTC.
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According to experts, during the third quarter, the market situation continued to put pressure on the financial stability of mining companies. However, the rate of sales of mined Bitcoins has slowed down.
In the United States, where public miners are the most active, the cost of mining 1 BTC has more than doubled compared to last year in some states due to increased hashrate and higher electricity rates.
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Before electricity price inflation, a typical hardware hosting contract cost $0.05 to $0.06. Now it has risen to $0.08-0.09. According to experts, many providers have moved from an all-inclusive model to a revenue-sharing model.