Bitcoin Miners Suffer Under Crushing $76k Production Costs

According to BlockBeats and CryptoQuant analyst Darkfost, miner selling pressure has returned in Bitcoin following its recent price recovery. This is evident from a significant increase in miner inflows to Binance. Darkfost noted that mining hash rate has declined by approximately 28% since late October last year, accompanied by a 20% difficulty adjustment.

As of now, the current production costs for Bitcoin mining are around $76,000. Meanwhile, Bitcoin is trading at approximately $65,000. This means most miners are operating at a loss and are forced to sell their holdings.