HomeCrypto NewsCurrent production cost for each Bitcoin is around USD $45,000, says JPMorgan

Current production cost for each Bitcoin is around USD $45,000, says JPMorgan


By Angel Di Matteo @shadowargel

Despite the halving that went into effect last month, analysts at JPMorgan They ensure that the production price of each BTC has increased in recent weeks, although they expect it to return to USD $42,000 as hashrate levels on the network drop.


  • Produce a Bitcoin It costs approximately USD $45,000
  • This calculation is based on the current hashrate and difficulty levels present on the network Bitcoin
  • According to analysts JPMorgan, This cost may fall to USD $42,000 in the coming months
  • The expected posthalving effects are already being seen, especially now that Runes have lost relevance

Amid the volatility and expectations related to the price of Bitcoin, a new report published by the bank JPMorgan points out that the production cost of each unit of the digital currency currently stands at an average of USD $45,000, a figure that exceeds previous estimates by USD $3,000.

Production costs increased Bitcoin

As is customary, this precision was made by the analyst of JPMorgan, Nikolaos Panigirtzoglou, who together with his team presented a report today, cited by the media The Block, in which they detail that the production price of Bitcoin has increased due to the variations seen in a series of indicators, with the recent halving that the network faced taking on special importance.

In this regard, the analysts of JPMorgan They indicated:

We previously anticipated a significant drop in hashrate post-halving as unprofitable bitcoin miners leave the bitcoin network. This appears to be happening, albeit with some delay. The current hashrate and energy consumption put our central estimate of Bitcoin production cost at around $45,000, which is well below current prices.

Although the cost of production of a Bitcoin It is below the current price, this value increased compared to the estimate presented in February of this year, which was around USD $42,000 per unit. However, Panigirtzoglou and his team believe that the measurement could drop in the coming months if hashrate levels continue to decline.

But in the face of current costs, in an interview for The Block Panigirtzoglou commented:

The production cost estimate is a function of the hashrate and mining equipment efficiency, which are in a state of flux after the halving. We have an estimate of $45,000 right now (which is slightly different from the $42,000 we’re forecasting as things settle down over time), but this current estimate of $45,000 would change as hash rate and hashing efficiency evolve. mining equipment.

Network indicators stabilize

Going deeper into the network’s indicators, Panigirtzoglou indicated that hashrate levels fall just as expected after the halving, since the new reward margins are not enough to compensate for the operating costs assumed by miners with older equipment.

Unlike other halvings, after the cut that took place on April 20, it was observed that hashrate levels remained high despite the new conditions. This in turn led to a slight increase in the network’s difficulty levels, which on May 9 were readjusted and fell below the values ​​seen before the adjustment in reward levels.

Let us keep in mind that the unusual hash levels and the increase in difficulty beginning in the post-halving period were mainly due to expectations for the arrival of the protocol. runes, which are basically memecoins that now operate on the ecosystem Bitcoin. This significantly increased the reward margins assigned to each block, which kept many miners operating despite the reduction in the issuance of new ones. BTC.

However, the drop in the aforementioned indicators seems to reflect a loss in interest in these new assets under the protocol. runes, since the volume of transfers of these assets decreased significantly compared to what was seen in recent weeks.

While all this is happening, analysts and enthusiasts are closely following the price evolution of Bitcoin, which is quoted at the time of publication at about USD $65,214 per unit and capitalizes on a slight drop of 1.3% in the last 24 hours.

Article by Angel Di Matteo / DailyBitcoin

Picture of Depositphotos

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.


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