brypto

Bitcoin’s hashrate continues to rise, and the average cost of mining one Bitcoin is around $88k. Meanwhile, the current market price of each Bitcoin is trading around $83k.

This indicates that the core of the Bitcoin community, the miners, still don’t believe we’re in a bear market.

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Your concern is completely valid. But Bitcoin has entered a stage where mining costs can no longer directly affect the market price, because the majority of it has already been mined, and the amount left to be mined is very small compared to the circulating supply. Also, the mining speed is rapidly decreasing, and in my opinion, after the next halving, the impact of mining costs will be very minimal.

I wonder what would happen if electricity gradually became cheaper around the world 🤔 never thought about it tbh

I'm not a miner but I don't believe it either 😅 😂

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This is average cost. Range of mining cost is between 40k and 100k around the world

Maybe it's because some miners can still mine Bitcoin at a cost below $83K, especially if they have access to cheap electricity or more efficient hardware.

Great insight!
Miners holding strong despite higher production costs shows real conviction.
Could be a bullish signal in the long run.