Rising energy costs and a price dip have Bitcoin miners losing $19,000 per block, forcing liquidations as retail capital shifts away from crypto.
Bitcoin's average production costs hit $88,000 but the price of BTC has dipped under $69,000. This means that the average miner is losing a staggering $19,000 on every block. The energy crisis stemming from the conflict in the Middle East is forcing miners to sell their Bitcoin just to keep the lights on. Plus, retail capital rotates out of crypto in Korea and Hyperliquid sees a shift in trading behavior. CoinDesk's Jennifer Sanasie hosts CoinDesk Daily.
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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.
