Bitcoin miners are facing a sharp profitability squeeze, with average production costs estimated around $88,000 per coin compared with a market price near $69,200. The gap leaves the average miner operating at roughly a 21% loss, according to data from Checkonchain’s difficulty-based cost model. The pressure has been building since bitcoin fell from $126,000 to below $70,000, but recent geopolitical developments have intensified the strain. Oil prices above $100 have pushed electricity costs higher, particularly in regions exposed to Middle Eastern energy supply. For mining operations, where power is the primary ... (full story)