JPMorgan: Bitcoin mining network becoming more sensitive to price swings
2026-06-22 12:51:56
Bitcoin’s mining network is becoming more sensitive to BTC price moves as more miners operate near breakeven levels, according to CoinDesk, citing JPMorgan. The bank said hashrate and mining difficulty have become more responsive this year, with the six-month beta of mining difficulty to BTC price moves rising to 0.62. JPMorgan estimates about 20% of miners are unprofitable and said public miners sold more than 32,000 BTC in Q1, topping total 2025 sales. It puts BTC production cost at about $78,000 vs around $64,700 at publication.
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