Bitcoin miners are losing $19,000 on every BTC produced as difficulty drops 7.8%

Bitcoin miners are currently operating at a significant loss, with the average production cost estimated at $88,000 per bitcoin as of mid-March, while Bitcoin trades around $69,200, resulting in a loss of nearly $19,000 per coin, or a 21% loss. This cost squeeze has worsened due to the Iran conflict, which has driven oil prices above $100, directly impacting electricity costs for mining operations sensitive to Middle Eastern supply. The geopolitical risk, including threats against Iranian power plants, has added pressure. In response to the stress, Bitcoin network difficulty saw a 7.76% drop on Saturday, the second-largest negative adjustment of 2026, causing the hashrate to retreat. When miners cannot cover costs, they are forced to sell Bitcoin to fund operations, adding supply pressure to the market. Publicly traded miners are diversifying into AI and high-performance computing to secure more predictable revenue streams.

(Source：CoinDesk)