Hashlabs Blog - Your Guide to Sustainable Bitcoin Mining Insights and Trends/How to Mine Bitcoin at a Lower Cost than Public Miners

Writter by Jaran Mellerud

How to Mine Bitcoin at a Lower Cost than Public Miners

By securing affordable hosting rates, you can achieve a lower direct cost of bitcoin production compared to the majority of public miners.

Bitcoin mining boasts immense profit potential. Sustaining these profits consistently, irrespective of market fluctuations, demands cost leadership and maintaining lower direct production costs than competitors.

Contrary to common belief, achieving low production costs isn't exclusive to large corporate miners. We'll demonstrate how mining with Hashlabs in Ethiopia empowers individuals to become cost leaders.

The above chart comprises the direct bitcoin production costs between Hashlabs and public miners. As depicted, in the previous quarter, only two public miners managed to attain a lower direct bitcoin production cost than Hashlabs’ simulated cost in Ethiopia, which stood at $9k per bitcoin.

Remarkably, the average direct bitcoin production cost for public miners in the last quarter amounted to $18k, more than twice the figure achievable by Hashlabs' hosting customers!

The most straightforward approach to lowering the direct bitcoin production cost is by securing access to highly affordable electricity. Notably, some public miners, such as Terawulf and Cipher, benefit from electricity rates as low as $0.04/kWh, while others face rates reaching up to $0.07/kWh.

With hosting rates dipping below $0.05/kWh for significant quantities, coupled with our high uptime, you can confidently surpass the cost efficiency of most public miners, particularly if you use latest-generation hardware like the Antminer S21.

It's important to note that the direct bitcoin production cost is expected to nearly double following the upcoming halving, scheduled for late April. Despite this adjustment, you will maintain your position as a cost leader, ensuring significant profit potential throughout the various cycles of this lucrative yet volatile industry.

Become A Cost Leader: Mine With Hashlabs in Ethiopia

Hashlabs Mining is actively seeking new hosting customers to fill up our cost-leading Ethiopia facility. If you're ready to reduce your direct BTC production cost and partner with a leader in the field, contact us today.

Let's embark on a journey toward greater profitability and efficiency in your bitcoin mining endeavor.

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