Miners are working "for free": minus $14,000 for each BTC 📉
Mining bitcoin now is a dubious pleasure. According to Checkonchain, the production cost of one BTC has jumped to $82,600, while the market offers just over $68,000 for it.
Outcome: a loss of $14,600 on each coin. Even a 7.7% reduction in network difficulty doesn't save the situation as energy prices continue to press from above.
If this continues, miners will start actively selling off reserves just to survive.
What are your thoughts on this, gentlemen?
Mining bitcoin now is a dubious pleasure. According to Checkonchain, the production cost of one BTC has jumped to $82,600, while the market offers just over $68,000 for it.
Outcome: a loss of $14,600 on each coin. Even a 7.7% reduction in network difficulty doesn't save the situation as energy prices continue to press from above.
If this continues, miners will start actively selling off reserves just to survive.
What are your thoughts on this, gentlemen?