Bitcoin’s Falling Price Puts Miners on Edge
Bitcoin now costs more to mine in the United States than its current market price, according to data from the Cambridge Bitcoin Electricity Consumption Index (CBECI).
The cryptocurrency is currently trading at around $87,900 according to CoinGecko data, while data from the CBEIC and the U.S. Energy Information Administration (EIA)—which puts the average nationwide cost per kWh of energy in October 2025 at $0.14—suggest that the current cost of mining one Bitcoin is $94,746.
This average price incorporates more expensive residential and commercial prices, but when taking only average industrial prices for all states ($0.09 in October), the average cost of mining one Bitcoin is still $86,931.
Given ongoing geopolitical and macroeconomic uncertainty, Bitcoin could be at risk of falling below this level, potentially putting greater strain on miners based in the U.S.
The situation is comparable or even worse in other countries, with China’s average business energy rate hitting $0.11 per kWh in June 2025, meaning that it costs $88,869 on average to mine a single Bitcoin.
GlobalPetrolPrices.com gives the same rate of $0.11 per kWh for Russia, while Canada benefits from a slightly lower rate of $0.10, equalling a cost of mining one Bitcoin of $88,003.
As an example of one country where large-scale mining is not commercially viable, trade body Cryptocurrency NZ has calculated that the cost to mine a single BTC in New Zealand is now NZ$173,192.96, or $103,799.
On the other hand, Paraguay—which now accounts for around 4% of Bitcoin’s hashrate—has an average mining cost of approximately $59,650, given its average electricity price for businesses of $0.05