Discover the secret sauce behind the most profitable Bitcoin mining companies. In an industry where every penny counts, the cost of mining a single Bitcoin holds the key to profitability. While companies like Marathon Digital and Riot Platforms dominate headlines with their impressive market caps and operational capacity, the true test lies beneath the surface. Delving into their financials reveals a complex web of expenses, from electricity costs to equipment depreciation. But it's not just about the raw numbers. CryptoSlate adopts an ingenious method to peel back the layers and uncover the real cost of mining. What they found for Marathon Digital's operations might surprise you, but it's Riot Platforms that takes an unexpected turn, challenging what we thought we knew about mining economics. How do their strategies stack up, and which company emerges as the most efficient in the unforgiving quest for Bitcoin profitability?
Marathon vs Riot: Analyzing the true cost of mining 1 bitcoin Marathon vs Riot: Analyzing the true cost of mining 1 bitcoin
Estimating the true average cost of mining a single Bitcoin for two of the largest publicly traded Bitcoin mining companies.
4 min read
Updated: Jan. 30, 2024 at 8:35 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Marathon Digital
Marathon Digital Holdings is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Riot Platforms
Riot Platforms is a bitcoin mining company, supporting the Bitcoin blockchain through rapidly expanding industrial-scale mining focused in the United States.
