Estimated cost to produce one Bitcoin, calculated across three tiers: electricity-only, cash operating expenses, and fully-loaded all-in cost.
Why: Establishes the price floor where mining becomes uneconomical. The three-tier breakdown (electricity, cash OPEX, all-in) shows which miners survive at each price level.
Category: Mining | Formula: Tier 1 (Electricity): (Daily Energy in kWh × Electricity Rate) ÷ Daily BTC Mined