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Does BTC always fall below the mining cost during each bear market?
Based on data, at an electricity rate of $0.060/kWh and a power consumption ratio of 9.5W/TH, the shutdown price for mining machines is approximately $29,115. So, will the current bear market bottom be below $30,000?
I think this is a misconception about the "path preset" of a bear market.
I don't know if the price will fall below the mining cost, but I do know that "mining machine shutdown price" ≠ "mining cost."
The actual costs for small mining farms are hard to quantify, but the financial reports and announcements of publicly listed companies are transparent.
I asked AI to analyze data from four publicly listed mining companies: Marathon, Riot, CleanSpark, and Bitfarms. The method was as follows:
1. Based on their financial reports, what are the proportions of costs for electricity, labor, finance, depreciation, etc.?
2. What are the main mining machines used by these four companies, and what are their respective shares?
3. What are the electricity rate ranges announced by these companies?
4. Finally, AI calculated the estimated cost to mine one BTC based on different mining machines and electricity rates.
🚩 The results show:
1. The highest cost is Riot: approximately $63,971 - $73,109;
2. The lowest cost is CleanSpark: approximately $53,468 - $61,106.
So, if the statement "BTC always falls below mining cost during each bear market" is true, then now is the bottom of the bear market!
Because publicly listed companies put in effort, money, and labor to mine coins, which is more strenuous than just clicking on a trading platform with your mouse.
Seeing this, do you still think BTC over $60,000 is expensive?