JPMorgan Says 20% of Miners Operating at a Loss as Bitcoin Trades Below Production Cost
Key Takeaways JPMorgan says Bitcoin stayed below its $78K production cost for 5 straight months. Public miners sold 32,000+ BTC in Q1 2026 as 20% of operators turned unprofitable. JPMorgan expects volatility to persist until Bitcoin climbs above $78K or miners exit. Bitcoin Miners Sold 32,000 BTC in Q1 as JPMorgan Flags Growing Profit Pressure
