{"id":550443,"date":"2023-09-07T23:30:01","date_gmt":"2023-09-07T23:30:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=550443"},"modified":"2024-06-11T07:06:44","modified_gmt":"2024-06-11T07:06:44","slug":"jpmorgan-adjust-bitcoin-production-cost-means-btc","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/jpmorgan-adjust-bitcoin-production-cost-means-btc\/","title":{"rendered":"JPMorgan Adjusts Bitcoin\u2019s Production Cost: What This Means For BTC And Its Miners?"},"content":{"rendered":"<p><span class=\"selectable-text copyable-text\">Recent adjustments by JPMorgan in its estimation of Bitcoin&#8217;s production costs have garnered attention. Previously standing at $21,000, JPMorgan&#8217;s <a href=\"https:\/\/www.theblock.co\/post\/249739\/jpmorgan-bitcoin-mining-cost-estimate\" target=\"_blank\" rel=\"noopener nofollow\">revised<\/a> Bitcoin production cost has now been pegged at $18,000.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">This move is closely tied to the Cambridge Bitcoin Electricity Consumption Index&#8217;s <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/the-secret-victory-how-bitcoin-flipped-the-energy-consumption-narrative\/\" target=\"_blank\" rel=\"noopener \">(CBECI) decision to update its methodology<\/a>, highlighting the interconnectedness of financial analyses and industry metrics.\u00a0<\/span><span class=\"selectable-text copyable-text\">Notably, the CBECI is known for its critical role in tracking and estimating the electricity consumption of the Bitcoin network.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/analyst-blackrock-bitcoin-spot-etf-may-unlock-trillion\/\" target=\"_blank\" rel=\"noopener \">Analyst: Blackrock\u2019s Bitcoin Spot ETF May Unleash $30 Trillion From US Advisors<\/a><\/div>\n<h2 dir=\"ltr\"><span class=\"selectable-text copyable-text\">Revised CBECI Methodology&#8217;s Impact On Mining Costs<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\"><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/jpmorgan-shares-prediction-on-bitcoin-next-move\/\" target=\"_blank\" rel=\"noopener \">JPMorgan analysts<\/a>, under the guidance of Nikolaos Panigirtzoglou, noted in a recent report that the new methodology changes the landscape of Bitcoin&#8217;s production cost estimations.\u00a0The report revealed:<\/span><\/p>\n<blockquote><p><span class=\"selectable-text copyable-text\">The current Bitcoin production cost falls to around $18,000 with the new methodology vs. $21,000 with the old methodology.<\/span><\/p><\/blockquote>\n<p><span class=\"selectable-text copyable-text\">According to the analyst, this shift <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-rollercoaster-analyst-forecasts-dip-before-skyrocketing\/\" target=\"_blank\" rel=\"noopener \">implies<\/a> that future changes in electricity prices will have a comparatively lesser effect on mining costs.<\/span><\/p>\n<p>The CBECI&#8217;s adjustments have a broader impact than simply changing estimates. Analysts have discovered that changes in electricity costs can significantly reduce the cost of producing 1 Bitcoin.<\/p>\n<p>With the new CBECI methodology, this sensitivity has decreased slightly to approximately $3,800, compared to the previous $4,300 change for every one cent per kWh (kilowatt hour).<\/p>\n<p><span class=\"selectable-text copyable-text\">According to the analyst, this sensitivity is expected to double after the 2024 halving event, which will decrease miners&#8217; rewards by half. This change will amplify the importance of cost management due to the higher impact of electricity costs on the overall mining expenses.<\/span><\/p>\n<h2>Bitcoin Latest Price Action<\/h2>\n<p>So far, Bitcoin is still very much in the red. Following the asset&#8217;s 13% drop in the past month, slipping below $29,000, Bitcoin hasn&#8217;t made any significant movement aside from a continued downward trend. However, over the past 24 hours, BTC has seen <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-spot-etf-will-btc-mimic-golds-2004\/\" target=\"_blank\" rel=\"noopener \">some gains<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/vKs1Shrz\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>The top crypto currently trades for $25,902 at the time of writing, up by nearly 1% in the past day. Over the past month, more than $70 billion has been erased from the asset&#8217;s market cap.<\/p>\n<p>Nevertheless, the past 24 hours have seen the asset record an <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/long-term-bitcoin-holders-supply-remains-untouched\/\" target=\"_blank\" rel=\"noopener \">inflow of $3 billion<\/a>. While BTC&#8217;s price and market cap suffered a bloodbath, its trading volume was negatively impacted.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-spot-etf-will-btc-mimic-golds-2004\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Spot ETF: Will BTC Mimic Gold\u2019s 2004 Price Surge? Analyst Weighs In<\/a><\/div>\n<p>Bitcoin has seen its trading volume fall from a high of $14 billion last Wednesday to as low as $3.5 billion yesterday and $8 billion in the past 24 hours. This is a significant plunge compared to the daily trading volume of more than $15 billion recorded early last month.<\/p>\n<p>Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent adjustments by JPMorgan in its estimation of Bitcoin&#8217;s production costs have garnered attention. Previously standing at $21,000, JPMorgan&#8217;s revised Bitcoin production cost has now been pegged at $18,000. This move is closely tied to the Cambridge Bitcoin Electricity Consumption Index&#8217;s (CBECI) decision to update its methodology, highlighting the interconnectedness of financial analyses and industry metrics.\u00a0Notably, the CBECI is known for its critical role in tracking and estimating the electricity consumption of the Bitcoin network.\u00a0 Related Reading: Analyst: Blackrock\u2019s Bitcoin Spot ETF May Unleash $30 Trillion From US Advisors Revised CBECI Methodology&#8217;s Impact On Mining Costs JPMorgan analysts, under the guidance of Nikolaos Panigirtzoglou, noted in a recent report that the new methodology changes the landscape of Bitcoin&#8217;s production cost estimations.\u00a0The report revealed: The current Bitcoin production cost falls to around $18,000 with the new methodology vs. $21,000 with the old methodology. According to the analyst, this shift implies that future changes in electricity prices will have a comparatively lesser effect on mining costs. The CBECI&#8217;s adjustments have a broader impact than simply changing estimates. Analysts have discovered that changes in electricity costs can significantly reduce the cost of producing 1 Bitcoin. With the new CBECI methodology, this sensitivity has decreased slightly to approximately $3,800, compared to the previous $4,300 change for every one cent per kWh (kilowatt hour). According to the analyst, this sensitivity is expected to double after the 2024 halving event, which will decrease miners&#8217; rewards by half. This change will amplify the importance of cost management due to the higher impact of electricity costs on the overall mining expenses. Bitcoin Latest Price Action So far, Bitcoin is still very much in the red. Following the asset&#8217;s 13% drop in the past month, slipping below $29,000, Bitcoin hasn&#8217;t made any significant movement aside from a continued downward trend. However, over the past 24 hours, BTC has seen some gains. The top crypto currently trades for $25,902 at the time of writing, up by nearly 1% in the past day. Over the past month, more than $70 billion has been erased from the asset&#8217;s market cap. Nevertheless, the past 24 hours have seen the asset record an inflow of $3 billion. While BTC&#8217;s price and market cap suffered a bloodbath, its trading volume was negatively impacted. Related Reading: Bitcoin\u2019s Spot ETF: Will BTC Mimic Gold\u2019s 2004 Price Surge? Analyst Weighs In Bitcoin has seen its trading volume fall from a high of $14 billion last Wednesday to as low as $3.5 billion yesterday and $8 billion in the past 24 hours. This is a significant plunge compared to the daily trading volume of more than $15 billion recorded early last month. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,6664,2628],"class_list":["post-550443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-jpmorgan"],"acf":[],"yoast_head":"\n<title>JPMorgan Adjust Bitcoin Production Cost: What This Means For BTC And Its Miners?<\/title>\n<meta name=\"description\" content=\"Recent adjustments by JPMorgan in its estimation of Bitcoin production costs have garnered attention. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"JPMorgan Adjust Bitcoin Production Cost: What This Means For BTC And Its Miners?","description":"Recent adjustments by JPMorgan in its estimation of Bitcoin production costs have garnered attention. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"JPMorgan Adjusts Bitcoin\u2019s Production Cost: What This Means For BTC And Its Miners?","url":"http:\/\/ktsl888.com\/news\/jpmorgan-adjust-bitcoin-production-cost-means-btc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/jpmorgan-adjust-bitcoin-production-cost-means-btc\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto","jpmorgan"],"dateCreated":"2023-09-07T23:30:01Z","datePublished":"2023-09-07T23:30:01Z","dateModified":"2024-06-11T07:06:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"JPMorgan Adjusts Bitcoin\\u2019s Production Cost: What This Means For BTC And Its Miners?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/jpmorgan-adjust-bitcoin-production-cost-means-btc\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/jpmorgan-adjust-bitcoin-production-cost-means-btc\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\",\"jpmorgan\"],\"dateCreated\":\"2023-09-07T23:30:01Z\",\"datePublished\":\"2023-09-07T23:30:01Z\",\"dateModified\":\"2024-06-11T07:06:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/550443"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=550443"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/550443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=550443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=550443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=550443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}