{"id":73769,"date":"2026-06-09T09:14:07","date_gmt":"2026-06-09T09:14:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-near-63-5k-is-hovering-at-what-it-costs-to-mine-btc-leaving-miners-at-break-even\/"},"modified":"2026-06-09T09:14:07","modified_gmt":"2026-06-09T09:14:07","slug":"bitcoin-near-63-5k-is-hovering-at-what-it-costs-to-mine-btc-leaving-miners-at-break-even","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-near-63-5k-is-hovering-at-what-it-costs-to-mine-btc-leaving-miners-at-break-even\/","title":{"rendered":"Bitcoin Near $63.5K Is Hovering at What It Costs to Mine BTC, Leaving Miners at Break-Even"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin hit a 2026 low of $59,100 last Friday, sending its market cap below $1.2 trillion for the first time since Oct. 2024.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Capriole\u2019s Charles Edwards pegs bitcoin\u2019s electrical-cost floor at $50,000 as spot prices test the production cost.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Miner profitability has slumped to a 14-month low, pushing weaker rigs toward shutdown territory.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">Miners Squeezed to the Break-Even Line<\/span><\/h2>\n<p><span style=\"font-weight:400\">The recent selloff has dragged <span>bitcoin<\/span> back to a price band that has historically marked long-term value. In an X post, Edwards, the founder of <\/span><span style=\"font-weight:400\">Capriole Investments<\/span><span style=\"font-weight:400\">, wrote that <span>bitcoin<\/span> is \u201ctrading back at its Production cost\u201d and that \u201cminers are now just breaking even on average.\u201d He added that the best long-term opportunities have historically sat between the current zone and the network\u2019s electrical cost, which he placed at $50,000.<\/span><\/p>\n<figure id=\"attachment_821433\" aria-describedby=\"caption-attachment-821433\" style=\"width:2560px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-821433\" class=\"wp-caption-text\"> <span>Bitcoin<\/span>\u2019s current price stands at its production cost, meaning miners are now just breaking even on average, per Capriole.<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">Production cost is the all-in expense of mining a single coin, including hardware, electricity and other overheads. When the market price falls to meet that figure, the least efficient operations start running in the red and face a choice of either absorbing losses or switching off their machines.<\/span><\/p>\n<p><span style=\"font-weight:400\">Edwards argues that over the past five years, electrical cost in particular has acted as a hard floor for <span>bitcoin<\/span>\u2019s traded price, an observation he ties to Satoshi Nakamoto\u2019s original theory that price gravitates toward the cost of production.<\/span><\/p>\n<h2><span style=\"font-weight:400\">A Brutal Stretch for the Market<\/span><\/h2>\n<p><span style=\"font-weight:400\">The break-even call lands at time when <span>bitcoin<\/span> has been on shaky ground, slipping to a 2026 low of <\/span><a href=\"https:\/\/news.bitcoin.com\/why-is-bitcoin-crashing-worst-week-of-2026-59100-low-and-more-than-half-of-all-btc-now-in-the-red\/\"><span style=\"font-weight:400\">$59,100 on Friday<\/span><\/a><span style=\"font-weight:400\"> as more than 351,000 traders were liquidated across <span>crypto<\/span> markets in a single 24-hour window. The drop widened <span>bitcoin<\/span>\u2019s year-to-date losses to roughly 30% and briefly pushed its market capitalization below $1.2 trillion, a level last seen in October 2024. <\/span><\/p>\n<p><span style=\"font-weight:400\">And, while the asset has since clawed back <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-surges-64k-trump-netanyahu-iran-deal\/\"><span style=\"font-weight:400\">toward $64,000<\/span><\/a><span style=\"font-weight:400\">, momentum remains fragile. <\/span><span style=\"font-weight:400\">The pressure has not been confined to spot prices alone as U.S. spot <span>bitcoin<\/span> exchange-traded funds (ETFs) bled an estimated $2.8 billion to $3.5 billion over a 10-to-11-session stretch in late May and early June, with one week alone logging around $3.4 billion in redemptions, the largest single-week outflow since the funds launched in early 2024.<\/span><\/p>\n<p><span style=\"font-weight:400\"> Strategy\u2019s <a href=\"https:\/\/news.bitcoin.com\/one-week-after-selling-32-btc-strategy-buys-1550-more-for-101-million-37856\/\">first bitcoin sale since 2022<\/a> added to the gloom, even as the company insisted it remains committed to growing its holdings, adding 1,550 <span>BTC<\/span> to its kitty yesterday.<\/span><\/p>\n<h2><span style=\"font-weight:400\">When the Math Stops Working for Miners<\/span><\/h2>\n<p><span style=\"font-weight:400\">For miners, a price at production cost is more than a talking point; it is an operating crisis. Mining profitability has slumped to a 14-month low, with several rigs now flirting with so-called <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-miners-hit-shutdown-prices-as-profitability-slumps-to-14-month-low\/\"><span style=\"font-weight:400\">shutdown prices<\/span><\/a><span style=\"font-weight:400\">, the point at which keeping a machine powered on costs more than the <span>bitcoin<\/span> it earns. The 2024 halving cut block rewards to 3.125 <span>BTC<\/span> per block while network difficulty kept climbing, squeezing margins from both directions.<\/span><\/p>\n<p><span style=\"font-weight:400\"> <a href=\"https:\/\/www.bitcoin.com\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin.com<\/a> News has tracked the same dynamic in prior cycles, examining the <\/span><span style=\"font-weight:400\">miner capitulation number<\/span><span style=\"font-weight:400\"> that marks when the price slips beneath the cost of production. A few years ago, the gap ran the other way, with production cost sitting <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-miners-face-a-squeeze-as-btc-production-cost-remains-well-above-spot-market-value\/\"><span style=\"font-weight:400\">well above spot value<\/span><\/a><span style=\"font-weight:400\"> and forcing weaker operators to sell reserves. Research <\/span><span style=\"font-weight:400\">has also flagged how rising energy and hardware expenses have pushed all-in mining costs to record highs, narrowing the cushion miners have when prices fall.<\/span><\/p>\n<p><span style=\"font-weight:400\">The strain helps explain why a growing share of public miners has pivoted toward artificial intelligence (AI) and high-performance computing, leasing data-center capacity to AI tenants whose revenue is far steadier than block rewards. For some operators, that shift has become a larger growth driver than mining itself.<\/span><\/p>\n<p><span style=\"font-weight:400\">In all of this, Capriole\u2019s framing is ultimately a <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bullish<\/a> one over a long horizon, given that in the 2019 and 2022 <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bear markets<\/a>, <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> traded below production cost before gradually converging back toward it, rewarding buyers who stepped in near the floor. Whether that pattern repeats depends on variables outside the mining math, including the trajectory of U.S. interest rates, the pace of ETF flows, and broader geopolitical tensions.<\/span><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-production-cost-miners-break-even\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin hit a 2026 low of $59,100 last Friday, sending its market cap below $1.2 trillion for the first time since Oct. 2024. Capriole\u2019s Charles Edwards pegs bitcoin\u2019s electrical-cost floor at $50,000 as spot prices test the production cost. Miner profitability has slumped to a 14-month [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73769"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73769"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73770"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}