Bitcoin mining expenses surge 168% amid capacity growth
BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.
BitFuFu, a cloud mining company affiliated with Bitmain, has released an unaudited financial and operational report on its Q2 2024 results, which ended on June 30.
The results reveal a significant surge in the cost of Bitcoin (BTC) mining amid the challenges and growth the firm has experienced over the last 12 months.
Alongside this surge in cost, the report also noted increased mining capacity under management, increasing “62.5% to 24.7 EH/s, compared to 15.2 EH/s during the same period of 2023.”
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Author: Josh O'Sullivan
