Analysis: The energy crisis is squeezing Bitcoin mining profits; if miners cannot withstand the pressure, it could trigger a new round of BTC sell-offs.

Rising energy prices coupled with heightened tensions in the Middle East have further increased mining costs, with electricity costs remaining under pressure. If miners are forced to sell Bitcoin to maintain operations, this could create additional selling pressure on the market. Data shows that the economic pressure on Bitcoin mining is intensifying. Currently, the average production cost per BTC is approximately $88,000, while the Bitcoin price is around $69,200, meaning miners are losing nearly $19,000 per BTC, resulting in an overall loss of about 21%. Meanwhile, the network difficulty has decreased by about 7.8%, the second largest drop in 2026, reflecting a decrease in computing power and increased network pressure. The hashrate has fallen back to approximately 920 EH/s, and the average block time has increased to over 12 minutes. Analysts believe that if the Bitcoin price continues to fall below the cost line and the difficulty continues to decline, the miner exit process may continue, putting pressure on the spot market structure in the short term. (CoinDesk)