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JPMorgan Cuts Bitcoin Mining Cost Estimate to $18,000

07/09/2023 23:42

Odaily Planet Daily News In a research report, JPMorgan Chase lowered its Bitcoin mining cost estimate from $21,000 to $18,000 based on the newly revised Cambridge Bitcoin Electricity Consumption Index method (CBECI). The Cambridge Center for Alternative Finance revised the CBECI methodology last week to improve the accuracy and reliability of the index, which tracks and estimates the electricity consumption of the bitcoin network. The new CBECI methodology argues that not all mining rigs that contribute to Bitcoin's hash rate should be treated equally, as in practice, miners often upgrade to newer, more efficient rigs, or mix different types of equipment that operate at different efficiencies. machine. (The Block)

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