Analysis: Energy Crisis Squeezes Bitcoin Mining Profits, If Miners Struggle to Bear the Pressure, It Could Trigger a New Round of BTC Selling

Odaily News Rising energy prices coupled with tensions in the Middle East are further pushing up mining costs, with electricity costs remaining under sustained pressure. If miners are forced to sell Bitcoin to maintain operations, it could create additional selling pressure on the market. Data shows that the economic pressure on Bitcoin mining is intensifying. The current average production cost per coin is approximately $88,000, while the Bitcoin price is around $69,200, meaning miners are losing nearly $19,000 per BTC, with an overall loss state of about 21%. Concurrently, the network-wide mining difficulty has been reduced by approximately 7.8%, the second-largest decrease in 2026, reflecting hash rate exiting the network and rising network pressure. The hash rate has fallen back to around 920 EH/s, and the average block time has extended to over 12 minutes. Analysis suggests that if the Bitcoin price remains below the cost line and the difficulty continues to decrease, the miner capitulation process may persist, putting pressure on the spot market structure in the short term. (CoinDesk)