First of all, we have a fact. The cost of miners is a hard support for the price of Bitcoin. Since the emergence of professional Bitcoin mining machines, individual miners have been eliminated. Those who open mining farms are big funds. This should be a consensus. Then the mine owner will use tools such as futures to ensure mining income. When the currency price drops below the break-even price, mining will be stopped and the electricity cost will be invested in purchasing Bitcoin, thus forming an effective support. Will the currency price drop to the production cost price? Of course it's possible, but it won't last long. The picture below is the ASIC mining machine break-even table for August found on Tushang. The current mainstream mining machines are S19 and S19pro (the backward production capacity is only a lot more). We try to calculate it in a conservative way. The electricity cost is also calculated at the lowest level of 30 cents (that is, 0.04 dollars in the table). The break-even price should be a little less than 20,000 dollars. Calculate it at 1.90 thousand dollars. The mine needs to hire people. Maintenance, mining equipment has a damage failure rate, and comprehensive operating costs are calculated conservatively at 30% (if you feel that the comprehensive operating costs are not that high, maybe you have never run a company), then 2.47w should be the mine production costs. There is actually logic behind the strong support of 2.5w.