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$BTC is trading around $62,400 — almost exactly level with its estimated global production cost of $62,650, according to analysis published on X by Charles Edwards, founder of Capriole Investments.
The convergence places Bitcoin at the lower edge of what Edwards identifies as the best historical zone for long-term value, a range that extends down to a separate electrical-cost level near $50,000.
What the Production Cost Metric Measures The Production Cost indicator estimates the global average USD cost of producing one Bitcoin per day, capturing hardware, facilities, and electricity.
At $62,650, that figure now nearly matches spot — meaning the average miner is at best breaking even on operations rather than generating a meaningful margin.
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