JPMorgan: Bitcoin Mining Costs Rise as BTC Trades Below $78,000 Production Threshold
By
Micah Zimmerman
1d ago· 3 min readenNews
Summary
JPMorgan analysts report that Bitcoin mining economics have deteriorated significantly, with BTC trading below its estimated $78,000 production cost for five consecutive months. This has rendered roughly 20% of miners unprofitable and forced publicly listed mining operators to sell record volumes of coins. The all-in production cost is derived from electricity, hardware depreciation, and overhead expenses across public miners.
Source
bskyJPMorgan: Bitcoin Mining Costs Rise as BTC Trades Below $78,000 Production Thresholdbitcoinmagazine.comKey quotes
· 3 pulledJPMorgan analysts said bitcoin mining economics have 'worsened' in 2026.
JPMorgan places the current all-in production cost of bitcoin at about $78,000, a figure derived from electricity, hardware depreciation, and overhead expenses across public miners.
Bitcoin has traded below the estimated cost to mine it for five straight months, according to JPMorgan analysts.
JPMorgan says Bitcoin mining economics have deteriorated as BTC trades about 19% below its estimated $78,000 production cost, forcing public miners into record coin sales and rendering roughly 20% of the industry unprofitable.
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