Investment bank JPMorgan Chase has changed its forecast for the cost of mining the first cryptocurrency, reports The Block. According to analysts, in order to mine 1 BTC you need $18,000 compared to $21,000 previously.
Experts made this assessment after reviewing the methodology of the Cambridge Bitcoin Electricity Consumption Index (CBECI).
Previously, a change in the cost of electricity by one cent per kWh led to a change in the cost of Bitcoin mining by $4,300. However, after a revision of the CBECI methodology, this figure dropped to $3,800, experts said.
They added that electricity price sensitivity will mechanically double after the 2024 halving.
JPMorgan previously said that Bitcoin miners are investing in AI to diversify risks.
Source: Cryptocurrency
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