Data shows the cost of mining Bitcoin has now surged up to $19.3k, something that could spell doom for the miners.
Bitcoin Difficulty Regression Model Shows Cost Of Production Now $19.3k
As per the latest weekly report from Glassnode, the cost of BTC production has gone up recently due to the hashrate and difficulty setting new all-time highs.
The “difficulty regression model” is an estimated average cost of production for Bitcoin that bases its value on the mining difficulty.
This difficulty is a feature of the BTC blockchain that controls how much hashes miners will need to make in order to mine a block on the network.
Whenever the hashrate (the total computing power connected to the chain) goes up, so does the difficulty since the network wants to keep the block production rate constant.
The difficulty regression model doesn’t make use of any elaborate data on mining equipment, power, and other…
