JPMorgan: Bitcoin mining costs are expected to drop to $45,000 as inefficient miners exit

ChainCatcher news, according to CoinDesk, JPMorgan stated in a research report on Thursday that the current hash rate and power consumption of the Bitcoin network imply that mining costs are expected to be around $45,000.

The report pointed out that the more Bitcoin prices decline, the greater the number of unprofitable miners facing pressure to leave the Bitcoin network, which in turn leads to a larger decrease in hash rate and Bitcoin production (mining) costs. JPMorgan previously anticipated that the hash rate would significantly decline after the halving due to unprofitable miners exiting the network. This situation is now occurring, but with some delay.

Analysts also noted that the boost from runes is temporary, and user activity and fees have sharply declined over the past week or two. This highlights the ongoing challenges Bitcoin miners face in maintaining a sustainable Bitcoin supply, especially in the post-halving environment.