Bitcoin Briefly Tops JPMorgan’s Estimated $85,000 Production Cost

Bitcoin briefly crossed its average production cost, estimated at 85000 dollars by JPMorgan, after 280 days below this threshold. This surpass would reduce forced sales by mining specialists, however, the price returning around 84100 dollars makes this relief still uncertain.

In brief

The bitcoin mining cost rises to 85000 dollars

JPMorgan now estimates the average cost needed to produce one bitcoin at nearly 85000 dollars, while 20% of companies are in the red according to the bank. This amount mainly takes into account electricity price, equipment efficiency, hashrate, and mining difficulty.

BTC crossed this level during its recent rally, before falling slightly below. In June, the banking institution still estimated its production cost at 78000 dollars, while the crypto was around 62500 dollars.

The essential figures reveal the magnitude of tensions experienced by the sector :