Checkonchain's difficulty regression model shows that as of mid-March, Bitcoin's average production cost is approximately $88,000, while the current BTC market price is around $69,000, meaning miners lose an average of about $19,000 per Bitcoin produced. The report states that Middle East geopolitical conflicts have driven up oil prices and raised electricity costs, further compressing miners' profit margins. Some listed mining companies have accelerated their transition to AI and high-performance computing businesses to seek more stable revenue sources. (CoinDesk)