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Bitcoin cost of production sinks to $13,000, says JPMorgan

Bitcoin cost of production sinks to $13,000, says JPMorgan

Cryptocurrency The big picture: As the crypto crash continues to leave Bitcoin prices depressed compared to their position a year ago, knock-on effects are still playing out in various areas. One of those is the production cost, and miners’ efforts to control it may be a double-edged sword for the crypto market. JPMorgan Chase & Co. reports that the cost of mining Bitcoin has fallen to around $13,000 from $24,000 since early June. Bloomberg notes that the drop is likely an effect of the crypto winter, but it’s unclear whether this could help or hinder any recovery of the cryptocurrency’s […]