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BlocksBridge Consulting Profile picture
BlocksBridge Consulting
@BlocksBridge_
Industry research and communications strategy for institutions. Advising C-suite of companies in the #bitcoinmining industry since 2014. Parent of @TheMinerMag_
Aug 20, 2022 • 6 tweets • 4 min read
Q2 was tough for #bitcoinmining companies. 18 of them sold more than 21,000 bitcoins, which was 660% of what they sold in Q1 and ~150% of their #BTC production in Q2.

To make matters worse, the cost of production increased while the general and interest expenses swelled 🧵👇 1/6 2/6 Analysis of 8 public #bitcoin miners who have released full financial statements so far show that their average cost of production, general and interest expenses per each BTC mined spiked by 22% in Q2 vs. Q1. They represent ~10% of the network hashrate.