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Bitcoin production costs at lowest point in ten months

Bitcoin production costs at lowest point in ten months

JPMorgan has determined that it currently costs about $13,000 to mine one bitcoin, up from $24,000 in early June. This is the lowest level since September 2021. According to the analyst, this decrease was not due to a mass exodus of miners, but due to increased efficiency.

According to analyst Nikolaos Panigirtzoglou, the Cambridge Bitcoin Index figures for electricity consumption show that crypto miners are using more efficient equipment. This will increase the profit margin and thus reduce the pressure to sell the coins. However, this low cost can also negatively affect the value of BTC, as some consider this production cost to be the bare minimum for the coin.


Bitcoin value is at its lowest point since the end of 2020.

The chance of this trend having a (direct) impact on video card prices seems rather small, given that Bitcoin GPU mining hasn’t been very interesting for quite some time. For this, Application-specific integrated circuits (asics), including those from Bitmain and now Intel.

source:
Bloomberg

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