At these “depressed profitability levels, even miners using energy-efficient machines like the Antminer S19j Pro need access to electricity priced lower than $0.08 per kWh,” said Jaran Mellerud, an analyst at Luxor. Even though the average energy price on the network is about $0.05 per kilowatt hour (kWh), many miners are paying about $0.07 – $0.08 per kWh, Mellerud said.
Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts Profitability
