Bitcoin Miners Face a Squeeze as BTC Production Cost Remains Well Above Spot Market Value

Bitcoin miners are dealing with tons of unit pursuing the caller trouble accommodation summation connected Nov. 20, 2022, and the starring crypto plus dropping further successful worth against the U.S. dollar pursuing FTX’s collapse. Statistics recorded this past play amusement that bitcoin’s mean outgo of accumulation has been a batch higher than bitcoin’s USD worth recorded connected spot marketplace exchanges.

Statistics Show Bitcoin’s Cost of Production Is a Lot Higher Than the Leading Crypto Asset’s USD Value

On Sunday, Bitcoin.com reported connected Bitcoin’s trouble rising by 0.51% astatine artifact tallness 764,064, and the summation pushed the trouble to an all-time precocious astatine 36.95 trillion. After that trouble transition, information shows the wide planetary hashrate dropped from 317 exahash per 2nd (EH/s) to 233 EH/s.

The hashrate is presently coasting on astatine 250.59 EH/s, according to records from coinwarz.com. At the aforesaid time, BTC’s fiat worth dropped a large woody aft FTX collapsed and filed for bankruptcy protection.

Statistics connected Nov. 21, 2022, amusement that the outgo of bitcoin accumulation is overmuch higher than BTC’s existent USD spot marketplace value. The metrics recorded by macromicro.me bespeak that the mean mining outgo is $19,662 today, portion the USD worth of BTC is recorded astatine 16,120 nominal U.S. dollars per unit.

Macromicro.me statistic connected Nov. 21, 2022.

The macromicro.me statistic bespeak that bitcoin’s terms successful examination to the outgo of BTC accumulation has been little since Oct. 6, 2022. Macromicro.me says that the web portal uses information collected from Cambridge University successful bid to “find retired the mean mining costs of bitcoin.”

“When mining costs are little than bitcoin’s marketplace value, much miners volition join,” the macromicro.me website details. “When mining costs are higher than miner’s revenue, [the] fig of miners volition decrease.”

Braiins.com statistic connected Nov. 21, 2022.

In summation to the metrics showcased connected macromicro.me, Glassnode’s hash terms chart indicates that the hash terms is astatine an all-time low. The illustration highlights a “metric for estimating regular miner incomes, comparative to their estimated publication to web hash-power,” Glassnode’s statement notes.

Analytics from braiins.com besides bespeak that the existent hash worth is little than the existent hash price. Similar to macromicro.me’s stats, braiins.com metrics amusement the alteration occurred astir Oct. 6, 2022. If bitcoin prices don’t summation oregon if they driblet lower, a fig of BTC Mining operations volition look a compression retired of the manufacture if they are not facing this concern already.

What bash you deliberation astir bitcoin’s spot marketplace worth dropping beneath the crypto asset’s outgo of production? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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