$96,100 per Bitcoin (BTC) for Miners: What's Happening?

UToday

2024-11-03 14:32:28

BTC-2,93%

The Bitcoin mining industry is facing some tough times, with the average cost to produce a BTC reaching $96,100 for publicly traded miners when including non-cash costs such as depreciation and stock-based compensation, according to a report by CoinShares analyst James Butterfill.

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GateUser-9df89c89

· 2024-11-03 19:59

Historically, the production cost serves as a psychological floor for the price of Bitcoin. If the price falls well below the mining cost, many miners may shut down their operations due to lack of profitability, reducing the supply of new Bitcoins. This reduced supply may eventually create pressure for the price to rise again, increasing volatility. IA ChatGPT 4o

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Omal

· 2024-11-03 15:17

Inverted?

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