The mining economics look even worse now
According to Matthew Sigel, Head of Digital Asset Research at VanEck
Bitcoin’s network hashrate is nearing an all-time high
Around 1038 EH/s
The next halving is expected in April 2028
At an electricity rate of $0.08
With hashrate unchanged
And a three-year depreciation period for the mining machine
A roughly $3,459 S21 XP
From now until the halving
$BTC would need an average price of about $100,000
to break even
To recoup the cash cost by the end of 2028
The average price would need to rise to around $116,000
Spot prices are hovering around $77,000
Hashrate is surging
But the coin price hasn’t kept up
The current price has flattened the miners’ payback curve
If prices keep grinding along
High-cost miners will feel the pain first
Selling pressure and shutdown narratives will take turns emerging
$BTC $ETH
#比特币算力 #矿工成本 #VanEck
According to Matthew Sigel, Head of Digital Asset Research at VanEck
Bitcoin’s network hashrate is nearing an all-time high
Around 1038 EH/s
The next halving is expected in April 2028
At an electricity rate of $0.08
With hashrate unchanged
And a three-year depreciation period for the mining machine
A roughly $3,459 S21 XP
From now until the halving
$BTC would need an average price of about $100,000
to break even
To recoup the cash cost by the end of 2028
The average price would need to rise to around $116,000
Spot prices are hovering around $77,000
Hashrate is surging
But the coin price hasn’t kept up
The current price has flattened the miners’ payback curve
If prices keep grinding along
High-cost miners will feel the pain first
Selling pressure and shutdown narratives will take turns emerging
$BTC $ETH
#比特币算力 #矿工成本 #VanEck