Analyst: The current BTC mining cost is approximately $36,800, and the miner profit margin is comparable to that of November 2022

ChainCatcher news, CryptoQuant analyst Axel Adler Jr posted on X platform that the average cost for BTC miners to mine is currently about $36,800 per coin. The price difference between the current BTC market price and the mining cost per BTC is 182%. This essentially represents the average profit margin. This level corresponds to the beginning of the bull market cycle in November 2022 and the price peak of $100,000 in this cycle. A price increase beyond this level would restore miner profits to the levels seen after the last halving and achieve excess profits comparable to those at the start of the bull market in January 2023.