2024

Bitcoin

Coin

<ul class="news-points">
 <li><strong>JPMorgan raises Bitcoin production cost to $45,000.</strong></li>
 <li><strong>Slower hashrate decline after halving event impacts cost.</strong></li>
 <li><strong>Long-term cost expected to trend closer to $42,000.</strong></li>
</ul>
<p>JPMorgan analysts have revised their estimate for the cost of producing one bitcoin to $45,000, citing recent changes in the Bitcoin mining hashrate. This update comes after the quadrennial halving event, which reduced the block reward for miners by 50%. Previously, the bank’s analysts, led by Nikolaos Panigirtzoglou, projected a production cost of $42,000. However, they now acknowledge that <a href="https://coinedition.com/bitcoin-breaks-66k-barrier-following-cpi-data-eyes-new-highs/" rel="noopener noreferrer nofollow">ongoing adjustments</a> in hashrate and mining efficiency have necessitated a revision.</p>
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   <p lang="en" dir="ltr">JP Morgan analysts noted in a Thursday report that the current bitcoin production cost estimate stands at $45,000 and $42,000 level for the medium term. Bitcoin prices will have limited upside ahead due to the limited inflow into U.S. spot bitcoin ETFs and lackluster demand for…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1791302903640297599?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 17, 2024</a>
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<p>JPMorgan initially anticipated a significant decline in hashrate following the halving. This decrease was expected as miners with less efficient equipment would become unprofitable and exit the network. Ho…</p>
<p>The post <a href="https://coinedition.com/jpmorgan-raises-bitcoin-mining-cost-estimate-to-45000/" rel="noopener noreferrer nofollow">JPMorgan Raises Bitcoin Mining Cost Estimate to $45,000</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

JPMorgan Raises Bitcoin Mining Cost Estimate to $45,000

Coin Edition

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