JPMorgan Raises Bitcoin Mining Cost Estimate to $45,000
- JPMorgan raises Bitcoin production cost to $45,000.
- Slower hashrate decline after halving event impacts cost.
- Long-term cost expected to trend closer to $42,000.
JPMorgan analysts have revised their estimate for the cost of producing one bitcoin to $45,000, citing recent changes in the Bitcoin mining hashrate. This update comes after the quadrennial halving event, which reduced the block reward for miners by 50%. Previously, the bank’s analysts, led by Nikolaos Panigirtzoglou, projected a production cost of $42,000. However, they now acknowledge that ongoing adjustments in hashrate and mining efficiency have necessitated a revision.
JPMorgan initially anticipated a significant decline in hashrate following the halving. This decrease was expected as miners with less efficient equipment would become unprofitable and exit the network. Ho…
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