JPMorgan says bitcoin mining economics have ‘worsened’ as BTC trades below production cost
60-second summary
JPMorgan estimates bitcoin mining economics have worsened as the cryptocurrency's price continues to trade below production costs, with the bank's current estimate of $78,000 surpassing the current market price of around $62,500. This significant disparity suggests that miners may struggle to remain profitable, potentially impacting the overall network's security and stability.
JPMorgan's current estimated production cost of bitcoin is about $78,000, while bitcoin is currently trading around $62,500.