The rising cost of producing a Bitcoin is posing challenges for Bitcoin miners as their machines struggle to generate profits due to the price fluctuations of the leading digital asset. Data from MacroMicro reveals that the average cost of mining one BTC surged to $83,668 in early June but has since dropped to around $72,000 by July 2. CoinShares' James Butterfill shared data indicating that during the April halving event, the Bitcoin price closely matched the average production cost. Some miners, such as Bit Digital and Riot Platforms, are spending more than the average cost to mine BTC, while others like Bitdeer and Hut8 are spending less. F2Pool, a Bitcoin mining pool operator, noted that only ASIC machines with over 23 W/T efficiency were profitable as of July 4. The recent decline in Bitcoin mining difficulty on July 5 could potentially make more machines profitable, especially those with unit power of 26 W/T or less at a BTC price of $54,000. Read more AI-generated news on: https://app.chaingpt.org/news