According to Odaily, CryptoQuant analyst Axel Adler Jr recently shared insights on the X platform regarding Bitcoin mining costs. The average cost for mining one Bitcoin is currently estimated at $36,800. The market price of Bitcoin is 182% higher than this mining cost, which essentially represents the average profit margin for miners.
This profit level is comparable to the beginning of the bull market cycle in November 2022, which saw a peak price of $100,000. A price increase beyond this level would restore miner earnings to the levels seen after the last halving and match the excess profits experienced at the start of the bull market in January 2023.
