Bitcoin Miners Suffer $19K Loss per Coin Amid Record Production Costs

Bitcoin miners are struggling to stay profitable as production costs have surpassed market prices. As of March 13, the average production cost per Bitcoin stood at $88,000, while the market price was around $69,200.

This represents a loss of approximately $19,000 on every coin mined, or a 21% loss on each block successfully mined.

The financial pressure has been mounting since Bitcoin's drop from $126,000 to below $70,000 in October. Elevated global energy prices have widened the damage, especially for miners operating in regions sensitive to Middle Eastern supply disruptions.

Several publicly listed miners are directing capacity toward AI and high-performance computing to generate more stable revenue. Bitdeer has taken a drastic measure by liquidating all its corporate Bitcoin holdings.