Live markets: Bitcoin has traded below its mining cost for five months, squeezing miners (opens original article in a new tab)

Bitcoin has traded below its mining cost for five months, forcing miners to sell assets and causing 20% of miners to become unprofitable, while the network adjusts through reduced hashrate and difficulty.

• Bitcoin has traded below its mining cost for five months, squeezing miners.
• 20% of miners are unprofitable, with publicly traded miners selling over 32,000 bitcoin in Q1 to cover costs.
• Mining difficulty adjusts automatically when prices drop below production costs, with recent 10% decline in June.