茶壶炒币
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Bullish
Half of the miners have reached shutdown price, will Bitcoin rebound?
The current price is $86,000, which is approaching the shutdown price for BTC miners. Data shows that when the Bitcoin price hovers around $85,000, it is almost the shutdown price for miners!
More than half of the miners face a brutal choice: continue burning electricity costs to keep mining, or decisively press the shutdown button?
1. What is the shutdown price?
The shutdown price is the break-even point for Bitcoin miners. When the Bitcoin price falls below this level, mining revenue cannot cover the electricity costs, forcing miners to shut down. The article explains its calculation method with the formula "Shutdown Price = (Daily Power Consumption of Miner × Electricity Price) ÷ (Daily Bitcoin Output × Mining Pool Fee Coefficient)" and uses the Antminer S19 as an example, pointing out that the current shutdown price is close to $85,000, which aligns with the current Bitcoin price, reflecting the widespread survival pressure in the industry.
2. Historical shutdown prices have been beacons at market bottoms
Looking back at the past few bear markets, the shutdown price triggered large-scale miner suspensions, after which the market rebounded:
December 2018: Bitcoin fell to $3,150, S9 miners shut down, then rebounded 344%.
March 2020: Coin price fell to $3,800, hash rate dropped 30%, then began a bull market to $65,000.
2022 bear market: Price fell below $20,000, hash rate dropped 26%, rebound in early 2023. This phenomenon of "shutdown indicates the bottom" stems from the synergistic effect of reduced selling pressure, institutional bottom-fishing, and difficulty adjustment.
The current price is $86,000, which is approaching the shutdown price for BTC miners. Data shows that when the Bitcoin price hovers around $85,000, it is almost the shutdown price for miners!
More than half of the miners face a brutal choice: continue burning electricity costs to keep mining, or decisively press the shutdown button?
1. What is the shutdown price?
The shutdown price is the break-even point for Bitcoin miners. When the Bitcoin price falls below this level, mining revenue cannot cover the electricity costs, forcing miners to shut down. The article explains its calculation method with the formula "Shutdown Price = (Daily Power Consumption of Miner × Electricity Price) ÷ (Daily Bitcoin Output × Mining Pool Fee Coefficient)" and uses the Antminer S19 as an example, pointing out that the current shutdown price is close to $85,000, which aligns with the current Bitcoin price, reflecting the widespread survival pressure in the industry.
2. Historical shutdown prices have been beacons at market bottoms
Looking back at the past few bear markets, the shutdown price triggered large-scale miner suspensions, after which the market rebounded:
December 2018: Bitcoin fell to $3,150, S9 miners shut down, then rebounded 344%.
March 2020: Coin price fell to $3,800, hash rate dropped 30%, then began a bull market to $65,000.
2022 bear market: Price fell below $20,000, hash rate dropped 26%, rebound in early 2023. This phenomenon of "shutdown indicates the bottom" stems from the synergistic effect of reduced selling pressure, institutional bottom-fishing, and difficulty adjustment.
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