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Bitcoin Has Traded Below Its Mining Cost for Five Months, Squeezing Miners

Summary by Coin Desk
About 20% of miners are now unprofitable, and publicly traded miners sold more than 32,000 bitcoin in the first quarter to cover operating costs, more than they offloaded in all of 2025.

10 Articles

The mining economy of Bitcoin deteriorated in 2026, according to JPMorgan. The bank estimates that the cryptocurrency has traded for five consecutive months below its cost of production, estimated at around USD $78.000, a pressure that would have left about 20% of miners unprofitable while several companies in the sector sell BTC to finance their operations. *** JPMorgan estimates that Bitcoin has traded below its cost of production for five con…

The economics of Bitcoin mining have worsened this year. Bitcoin has been trading below its cost of production for five months, according to The Block, citing JPMorgan. The bank's experts estimated the average cost of mining one coin at $78,000. At the current price, approximately 20% of miners are working in...

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BizToc broke the news on Thursday, June 18, 2026.
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