Analysis: The current cost of mining one BTC is approximately $36,800, and the miner's profit margin is similar to that of November 2022.

BlockBeats News, May 13th, CryptoQuant analyst Axel Adler Jr posted on Platform X stating that the current average cost for BTC miners is around $36,800 per coin. The current gap between the BTC market price and the cost of mining a single BTC is 182%. This is essentially the average profit margin.

This level corresponds to the start of the bull market cycle in November 2022 and the $100,000 price peak of this cycle. A price increase beyond this level would bring miner revenue back to the level seen after the previous halving and achieve significant excess profits comparable to those at the start of the bull market in January 2023.

Source

Correction/Report

RelatedRecommended

Life and preparation of miners after 8 months of BTC halving.

The life and death speed of Bitcoin mining industry in the cold winter: Analysis and investment insights on Marathon Digital Holdings (MARA).

Bitcoin Mining Survival Threshold: How Miners are Adapting to a 35% Profit Plunge

Bitcoin Price Drop, Mining Difficulty and Costs Rise, Pushing Many Miners Near Breakeven Point, Forcing Them to Rely on HODLing and External Financing to Sustain Operations

Coinbase Research: The Status Quo of Big Bitcoin Miners in a Bear Market

Computing power monitoring is crucial

Review of this week | BitGo and BiT Global’s cooperation triggered a crisis of trust in WBTC; Putin signed a decree legalizing cryptocurrency mining in Russia

Meson Network (MSN) was delisted after its price dropped by more than 70% in 100 days. The founder's addiction to consumption caused community condemnation; Ethereum core developers questioned the significance of the crypto industry; this week, the international economic environment caused Bitcoin and Ethereum prices to experience large fluctuations; X platform tested payment services involving transactions, balances and transfers; Ronin Bridge was attacked and about 4,000 ETH were stolen, and some funds were returned

On-Chain Activity