Bitcoin now costs more to mine in the United States than it trades for, according to data from (CBECI) and the (EIA) energy figures. CoinGecko lists Bitcoin near $87,900, while those data sets put the average U.S. mining cost at about $94,700 using a $0.14 per kWh average price.
Using average industrial power costs of $0.09 per kWh lowers the U.S. mining breakeven to roughly $86,900. That number sits very close to the current market price and leaves little margin for operators.
Several other nations face similar pressure, with China’s business rate at $0.11 per kWh and a mining cost near $88,900 according to GlobalPetrolPrices. Russia and Canada show comparable figures, with Canada near $88,000 using GlobalPetrolPrices and GlobalPetrolPrices respectively, while New Zealand’s cost has reached about $103,800 as reported by Cryptocurrency NZ via RNZ.
By contrast, Paraguay benefits from very low business rates around $0.05 per kWh, giving miners an average cost near $59,650, and the country now supplies about 4% of global hashrate per HashrateIndex and GlobalPetrolPrices.
U.S. operators have begun shifting infrastructure toward AI and data services, with firms such as Riot Platforms, Bitfarms, Core Scientific, IREN, TeraWulf, CleanSpark, Bit Digital, MARA Holdings, and Cipher Mining making moves reported in Wired. Canaan executives say they avoid heavy debt and aim for low power contracts to stay viable, adding flexibility in operations and hosting.
Alex de Vries of Digiconomist warned on economics, noting “You can do the math yourself considering it takes about 1.2 million kWh to mine one Bitcoin at the moment.” He added that “At a price of $85k per coin, anything above just 7 cents per kWh in costs will put you at a loss.” (Ed. note: the next reward halving arrives in two years and will further reduce miner income.)
