Cormint Boasts $9.2k in Bitcoin Production Cost for 2023

Reports 68% in full year bitcoin mining gross margin

Texas-based bitcoin mining firm Cormint reported that it mined 154 BTC in Q4, ending the year with a nameplate hashrate of 960 PH/s and 539 BTC on its balance sheet.

As a privately-owned bitcoin mining operation, Cormint joins a list of public peers in disclosing critical bitcoin mining operational statistics on a quarterly basis.

The company said in a release on Feb. 18 that it recorded a direct cost of bitcoin production of $9,463 per BTC mined in Q4, with a full-year average of $9,177 for mining a total of 510 BTC. Cormint claimed that its average power price was $28/mWh in 2023.

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Factoring in other corporate overhead in addition to the direct cost of bitcoin production, Cormint reported an all-in mining cost of $19,255 per BTC for the full year of 2023.

This number puts Cormint at the lower end compared to most of its publicly traded competitors in terms of both the direct cost of bitcoin production and the all-in cost of mining.

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