WuBlockchain
CoinShares said listed Bitcoin miners fell below aggregate cash breakeven in Q2 2026. Their weighted average pre-tax cash cost to produce one BTC reached about $75,500, compared with Bitcoin’s $58,400 quarter-end price. June’s monthly average hash price also fell to a record-low $27.7/PH/s/day.
Why it matters
The cost-price gap turns weak mining economics into an operating problem, not just a margin squeeze. A record-low hash price cuts revenue per unit of computing power, making capital discipline more important for listed operators already below cash breakeven.
Market impact
The pressure is reaching equipment decisions. Core Scientific paid $41.9 million to cancel roughly 15 EH/s of next-generation mining hardware, while several listed miners have shut down or are winding down operations. The next signal is whether lower hashprice drives more capacity exits or surviving operators return to cash breakeven.
Source: [CoinShares Bitcoin mining report - Q2 2026](https://coinshares.com/corp/insights/research-data/bitcoin-mining-report-q2-2026/)
Frequently asked questions
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Why did listed Bitcoin miners fall below cash breakeven in Q2 2026?
Their weighted average pre-tax cash cost to produce one BTC reached about $75,500, above Bitcoin’s $58,400 quarter-end price.
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How low did Bitcoin mining’s average hash price fall in June?
The monthly average hash price fell to a record low of $27.7/PH/s/day, cutting revenue per unit of computing power.
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How much mining capacity did Core Scientific cancel?
Core Scientific paid $41.9 million to cancel roughly 15 EH/s of next-generation mining hardware.
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What operating response has emerged among listed Bitcoin miners?
Several listed miners have already shut down or are winding down operations under the cost pressure.
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What is the next signal for Bitcoin mining economics?
The next signal is whether lower hashprice drives more capacity exits or surviving operators return to cash breakeven.
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