# JPMorgan Says Bitcoin Mining Economics Have Worsened as Price Sits Below Production Cost

With Bitcoin trading under estimated production cost, public miners have sold coins in volume to cover operations, a direct stress on the sector.

- Published: 2026-06-20T10:26:14.531Z
- Canonical: https://polylog.news/crypto/2026-06-20/jpmorgan-says-bitcoin-mining-economics-have-worsened-as-pric
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Bitcoin Magazine](https://bitcoinmagazine.com/news/jpmorgan-bitcoin-mining-costs-worsened), [CoinDesk](https://www.coindesk.com/markets/2026/06/19/live-markets-bitcoin-has-traded-below-its-mining-cost-for-five-months-squeezing-miners)

JPMorgan has told clients that Bitcoin mining economics have deteriorated, with the asset trading roughly 19% below its estimated $78,000 production cost according to the bank's analysis. Production cost is the bank's estimate of the averag…

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