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Odaily Planet Daily reported that JPMorgan Chase lowered its Bitcoin mining cost estimate from US$21,000 to US$18,000 in a research report based on the newly revised Cambridge Bitcoin Electricity Consumption Index method (CBECI).
The Cambridge Center for Alternative Finance last week revised the CBECI methodology to improve the accuracy and reliability of the index, which tracks and estimates the Bitcoin network’s electricity consumption. The new CBECI methodology believes that not all mining equipment that contributes to Bitcoin’s hashrate should be treated equally, as in reality, miners often upgrade to newer, more efficient equipment, or have a mix of machines that operate with varying efficiencies. machine. (The Block)