Bitcoin mining profit plummets to $500 per BTC as costs surge past $70k as Wall St funds miners’ AI escape hatch
AI era fuels Bitcoin miners' evolution, with Wall Street funding their strategic shift away from cryptocurrency volatility.
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Bitcoin miners grapple with soaring costs above $70,000 per BTC and dwindling profits of just $500 amid Wall Street-backed pivots to AI, while Israel's escalating Iran conflict drains the equivalent of 41,300 BTC weekly (equivalent to over three months of current issuance), and BTC's repeated rejection at $71,500 signals mounting downside risks. Dive into these critical stories below.
The global crypto market cap is $2.34 trillion, with a 24-hour volume of $102.4 billion. The price of Bitcoin is $68,404.04, and BTC market dominance is 58.7%. The price of Ethereum is $1,971.77, and ETH market dominance is 10.2%. The best-performing sector is Tokenized Gold, which gained 1%. The Crypto Fear & Greed Index is currently Extreme Fear (18).
📰 Top News
Bitcoin mining profit plummets to $500 per BTC as costs surge past $70k as Wall St funds miners’ AI escape hatch
AI era fuels Bitcoin miners’ evolution, with Wall Street funding their strategic shift away from cryptocurrency volatility.
Israel’s Iran war will soon cost the equivalent of 41,300 Bitcoin every week
Israel’s weekly war costs equal more than 13 weeks of Bitcoin’s current issuance.
Bitcoin fails again at $71,500 as weakening momentum raises risk of a deeper pullback
A rejected breakout above $73,000 nudges Bitcoin toward a deeper crypto winter.
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