Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8%

5 hours ago

Bitcoin miners are facing significant losses, with production costs around $88,000 per coin against a market price near $69,200, leading to a loss of about $19,000 per bitcoin mined.
Geopolitical tensions, including high oil prices above $100 and disruptions like the closure of the Strait of Hormuz, are increasing electricity costs and contributing to a decline in hashrate and network difficulty.
The Bitcoin network difficulty dropped 7.76% to 133.79 trillion, with hashrate falling to roughly 920 EH/s and average block times exceeding the 10-minute target, indicating network stress.
Miners are selling bitcoin to cover costs and diversifying into AI and high-performance computing for steadier revenue, adding supply pressure to a market with significant underwater holdings.
Further difficulty declines are expected if bitcoin prices remain below production costs, potentially leading to a continued miner exodus and forced selling, impacting both miners and the spot market.

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