Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
Bitcoin (BTC) miners are cutting costs and embracing artificial intelligence as the industry continues to grapple with the consequences of the network’s April halving, cryptocurrency asset manager CoinShares said in an Oct. 28 report.
The increasing cost and difficulty of mining BTC has resulted in highly varied outcomes among Bitcoin miners, according to CoinShares’ Q3 mining report.
“The Bitcoin mining industry has faced significant challenges this year, with revenues and hash prices declining,” CoinShares said.