The Bitcoin mining industry is facing some tough times, with the average cost to produce a BTC reaching $96,100 for publicly traded miners when including non-cash costs such as depreciation and stock-based compensation, according to a report by CoinShares analyst James Butterfill.
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must be all them bit axes 😅
Bitcoin price will have to go up, or the difficulty is going to start going down as people are forced to drop out.
Game theory in play 😜