Bitcoin Mining Difficulty Drops by Most Since July 2021 as Crypto Winter Cuts Profitability

​​At these “depressed profitability levels, even miners using energy-efficient machines like the Antminer S19j Pro need access to electricity priced lower than [8 U.S. cents] per kWh,” said Jaran Mellerud, an analyst at Luxor. Even though the average energy price on the network is about 5 cents per kilowatt hour (kWh), many miners are paying about 7 cents to 8 cents per kWh, Mellerud said.