Bitcoin Mining Profitability Weakens as Public Miners Sell Over 32,000 BTC in Q1

Bitcoin mining profitability has weakened after public mining firms sold more than 32,000 BTC in the first quarter. According to NS3.AI, daily miner revenue is around $30 million, down from more than $50 million last summer. JPMorgan estimated Bitcoin’s production cost at about $78,000, while BTC was trading at $61,000. The gap between estimated costs and the market price highlights pressure on miners’ margins alongside the reported increase in BTC sales by public mining companies.