JPM - JPMorgan Drops Bitcoin Mining Cost Estimate Halving Event Could Impact Miners' Profits | Benzinga
After the Cambridge Bitcoin Electricity Consumption Index (CBECI) methodology was revised last week, JPMorgan (NYSE: JPM) lowered its Bitcoin (BTC-USD) production cost estimate to $18,000 from $21,000. JPMorgan analysts led by Nikolaos Panigirtzoglou added that electricity price changes will now have a smaller effect on Bitcoin mining costs.
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The new CBECI methodology calculates the production cost assuming that not all mining equipment contributing to Bitcoin's hash rate should be treated equally. This is mainly because all miners frequently upgrade to newer, more efficient equipment ...