Electricity costs are rising again. The latest data shows that the electricity CPI increased by 6.66% year-on-year, which directly impacts the cost structure of the mining industry. The continuous rise in energy prices has been a key factor influencing mining profitability. Against this backdrop, equipment efficiency and operational cost management become even more critical— the survival space for low-efficiency mining machines is further squeezed. For investors holding PoW assets, this data is worth paying attention to, as it directly affects long-term network security costs and the economic models of participants.