The economics of Bitcoin mining just entered uncharted territory. Per-coin production costs have climbed to an average of $74,600, while comprehensive all-in expenses now sit at $137,800. What's driving this squeeze? Network hashrate recently smashed through the 1 zettahash per second barrier for the first time ever. Higher computational competition means each miner's slice of block rewards keeps shrinking, even as operational costs refuse to budge. Profitability margins are getting thinner by the block.