Miner capitulation-style sell-offs occur again as bitcoin's $70,000 price fails to cover the $87,000 production cost.
Show original
According to CoinWorld, Bitcoin is currently trading about 20% below its estimated average production cost of $87,000, which increases financial pressure on miners. The current spot price, close to $70,000, has forced some less efficient mining farms to cease operations, as evidenced by a 20% drop in network hashrate from its peak in October. Although the hashrate has stabilized at around 913 EH/s, many miners remain unprofitable, causing them to continuously sell Bitcoin to cover operational costs and debts.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Cross-chain bridge Relay announces completion of $17 million Series B funding round, led by Archetype and USV
Chaincatcher•2026/02/05 19:18
Congratulations on profiting from shorting bitcoin—the real show is yet to come!
币界网•2026/02/05 18:58
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$65,630.47
-10.13%
Ethereum
ETH
$1,932.39
-9.31%
Tether USDt
USDT
$0.9980
+0.01%
BNB
BNB
$645.47
-9.07%
XRP
XRP
$1.23
-19.49%
USDC
USDC
$0.9997
+0.00%
Solana
SOL
$81.98
-12.07%
TRON
TRX
$0.2728
-3.75%
Dogecoin
DOGE
$0.09173
-11.43%
Bitcoin Cash
BCH
$474.9
-10.82%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now