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cryptocurrencySaturday, June 20, 2026

Bitcoin's pain deepens as mining costs bite

Bitcoin is down nearly 50% from its peak, and the fundamentals are starting to crack. Mining costs now exceed the price, regulators are closing in, and even the cheerleaders are sounding defensive. Today's stories paint a picture of an industry under pressure from every direction.

Sources

Mining under water

The most concrete signal of distress is that Bitcoin now costs more to mine than it's worth, and the market is feeling it.

#01bitcoinmagazine.comJun 20

JPMorgan: Bitcoin Mining Costs Have 'Worsened' As BTC Trades Below Production Cost

JPMorgan says Bitcoin mining costs have 'worsened' with BTC trading below the $78,000 production cost for five straight months. Roughly 20% of miners are now unprofitable, and public miners are selling record volumes.

3 min readRead original

#02news.bitcoin.comJun 20

$82.53 Intraday Low: How STRC’s Drop Tests Michael Saylor’s Bitcoin Credit Machine

Strategy Inc.'s preferred stock STRC dropped to $82.53 intraday, testing the resilience of Michael Saylor's bitcoin-backed credit machine. The security is designed to trade near $100 par value.

6 min readRead original

Regulation tightens

Regulators aren't waiting for a recovery. Australia and Ireland both made moves today that will shape the landscape for years.

#03news.bitcoin.comJun 20

Australia’s ASIC Wins High Court Appeal as Block Earner Yield Product Faces Fresh Penalty Fight

Australia's High Court unanimously ruled that Block Earner's crypto yield product was offered illegally without a license. It's a landmark decision that sets a tough precedent for crypto lending in Australia.

#04briefly.coJun 20

Ireland Targets Crypto Assets in New Strategy to Disrupt Illicit Cash Flows

Ireland launched a 30-point action plan targeting crypto assets as part of a broader strategy to disrupt illicit cash flows. The plan includes a National Risk Assessment and enhanced safeguards.

The narrative fray

Even as network activity rises, the bull case is getting harder to sell. The stories around Bitcoin's purpose and future are shifting.

#05www.cnbc.comJun 20

Bitcoin's latest plunge revives the debate over owning it—and whether it's just 'crypto being crypto'

Bitcoin has lost nearly half its value since July 2025, reviving the debate over its role in portfolios. Morningstar calls it 'crypto being crypto,' but the selloff reflects broader risk reassessment.