🚨 Alert: Bitcoin electricity costs break through the $46,000 critical threshold Data interpretation: The average electricity cost across the network has fallen below $46,000. This is not a positive sign of efficiency improvement, but a direct reflection of high-cost mining power being forced out of the market. Market logic: As inefficient miners (high electricity bills, old equipment) shut down due to losses, the total network hash rate decreases, causing the average cost line to passively shift downward. Price warning: