TREE NEWS reports: Listed bitcoin miners’ weighted average pre-tax cash cost of production was about $75,500 per coin in Q2 2026, above the roughly $58,400 BTC price at quarter-end, pushing the sector below cash break-even. Hash price fell to a record low of $27.7 per PH/s per day in June. All-in costs varied widely, from about $76,529 at ABTC to $353,168 at CIFR, and several miners have shut down hashrate or shifted to AI and high-performance computing.
CoinShares: Listed Miners’ Q2 Cash Cost of $75,500/BTC Exceeds Bitcoin Price
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AI take
The gap between cash cost and spot price is the sector's real story: it means listed miners are funding operations at a loss, and the wide spread in all-in costs — from roughly $76.5K to over $353K per coin — suggests consolidation pressure is unevenly distributed rather than sector-wide. The record-low hash price explains why some operators are idling hashrate or redirecting capacity toward AI and HPC, effectively repricing their power and infrastructure away from bitcoin. Whether that migration accelerates, and whether higher-cost producers keep curtailing, is the open question.
Generated by AI for reference only.
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