ANNOUNCEMENT! We're excited to share that The Block Pro, a portfolio of research, news and data products in one easy-to-use platform, launches later this month. Reach out to your account manager for more information about products and subscription options.
Due to the network hashrate growth and evolving macroeconomic conditions, the direct cost of bitcoin among mining institutions has risen sharply over the first quarter of 2022.
If the crypto market continues a bearish outlook, a new round of consolidation in the mining industry could take place in the near term as the gross profit margin keeps being squeezed.
In this piece, we dive into the numbers provided by a dozen public mining companies in their latest earnings reports and conference calls.
Footnotes
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
