Bitcoin production cost drops to $13,000

Mine Bitcoin Cheaper now than it was a month ago, according to reports from JP Morgan. mining cost BTC up to the minimum $13,000 During this month, the lowest number in the past ten months. Last month the figure was $24,000.

Bitcoin: The Cost of Mining a Coin Drops to $13,000

price for $13,000on average, to mine Bitcoin It’s the lowest since 2021, but what’s even more surprising is that this value was just $24,000 a month ago.

“While it is clearly conducive to mining profitability and may reduce pressures on miners to sell bitcoin holdings to increase liquidity or reduce debt, the lower cost of production can be viewed as a negative for bitcoin’s price outlook in the future,” says JPMorgan. “Some market participants view the cost of production as the bottom line of the bitcoin price range in a bear market.”

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price for $13,000 It is the same number that analysts say will reach Bitcoin In the future. The coin is currently worth $20,000, which has seen a 70% drop in its value since November of last year. This fall may also affect the rest of the cryptocurrency market.

Bitcoin miners are going through one of the worst times, with the unit value at one of the lowest levels in many years and the cost of energy soaring. However, many miners continue to jump on the mining bandwagon and continue to invest in it, hoping that the value of the cryptocurrency will rise in the future and then sell off. We will keep you updated with the news.