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Home BlockchainBitcoin Miners Could Face Crisis After BTC Price Falls 50% From Peak
Blockchain

Bitcoin Miners Could Face Crisis After BTC Price Falls 50% From Peak

by Decrypt
written by Decrypt 0 comments
Bitcoin Miners Could Face Crisis After BTC Price Falls 50% From Peak

In brief

  • Bitcoin crashed below $63,000 on Thursday, while estimated mining costs range from $60K-$80K.
  • Public miners’ production costs range from $39K (Iris Energy) to $106K (NYDIG) per BTC.
  • The crash has triggered over $2 billion in crypto liquidations over the past 24 hours.

The price of Bitcoin has plunged 50% from its October peak—and could soon sink below what it costs some miners to produce the asset, if it hasn’t already.

With Bitcoin down 14% over the last day to a recent price below $63,000, a…

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