The average cost to mine one Bitcoin is over $70,000, a significant increase from the $67,704 recorded earlier this year.
Ki Young Ju, founder of CryptoQuant, cited a recent filing from MARA Holdings to highlight the rise in production costs. In particular, the rise in Bitcoin mining costs is mainly due to the rise in energy prices, which have been steadily rising since last year.
Important points
- The average Bitcoin mining cost has increased to $70,027 per coin. $BTC.
- MARA Holdings and other miners continue to make profits despite shrinking margins as Bitcoin trades above $72,000.
- MARA has updated its financial policy to allow for the sale of Bitcoin from its digital asset reserves if necessary.
- The company ranks second among corporate holders of Bitcoin with 53,822 people. $BTC It’s currently in the safe.
Average mining cost per item $BTC over $70,000
Citing MARA’s latest disclosure, Young Ju said the average mining cost is currently around $70,027 per case. $BTCan increase of 3.43% from the $67,704 figure he shared in February. Please note that the total mining cost will vary depending on how a company calculates expenses.
Currently, at a basic level, MARA’s electricity bill alone costs around $38,956 per Bitcoin, a notable increase from $29,084 in 2024. When miners add hosting and site operations, operating costs rise to $70,027 per Bitcoin. $BTC.
Additionally, Young Ju estimates that when companies consider selling, general and administrative expenses (SG&A), all production costs increase to $110,000 to $113,000 per item. $BTC.
1. Energy cost per $BTC= Electric only = $38,956
2. Mining operation cost per $BTC
= Power + Hosting + Site Operations = $70,0273. All-in mining cost per $BTC
= Electricity + Hosting + Site operation + SG&A expenses
= $110,000 ~ $113,000 (estimated)— Ki Young-ju (@ki_young_ju) March 5, 2026
MARA is currently profitable
Despite these rising costs, MARA remains profitable so far. At the time of writing, Bitcoin is trading at $72,748, just above the estimated average mining cost of $70,000. Nevertheless, profitability remains sensitive to price fluctuations.
When Bitcoin trades below its cost of production, as was observed when the price crashed to $60,000 last month, miners like MARA face losses.
In response to market volatility, MARA recently changed its digital asset treasury strategy and updated its policy for 2026. $BTC maintained on the balance sheet. However, the company said it will make sales decisions based on capital allocation priorities and market conditions.
Current holding status
According to its latest filing, MARA Holdings had 53,822 assets. $BTC As of December 31, 2025, the company is the second largest corporate holder of Bitcoin.
Of this total, MARA financed 9,377 $BTC Provide to third parties to generate additional revenue. It also promised 5,938 $BTC As collateral under a credit facility.
The company also allocated 15,315 $BTC Follow your digital asset management strategy and record them as accounts receivable. Meanwhile, MARA classified the remaining 38,507 people as unrestricted. $BTC As a long-term digital asset.
