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Bitcoin hits $62.6K production cost; analyst flags $50K value zone

Capriole: Bitcoin at $62,650 Production Cost; Electrical Cost at $50,000

Capriole’s Charles Edwards says Bitcoin has returned to its Production Cost near $62,650. He calls this the threshold of a historical value zone down to an Electrical Cost around $50,000.

Edwards shared the update on X with a chart of the latest levels. “The best long-term value opportunities have historically been between here and Electrical Cost, currently at $50K,” he wrote in his post.

Production Cost estimates the global average USD cost to produce one BTC per day. Methodology details are outlined in this indicator explainer.

At these levels, miners are near breakeven, per the model shared by Edwards.

Miner behavior shows stress. Network hashrate has fallen to about 837 EH/s after touching the 1,000 EH/s area in May, roughly 19% higher than today’s level, per CoinWarz data.