Bitcoin Price Stays Below Mining Cost for 280 Days, Surpassing 2018 Bear Market Record

JPMorgan reported that Bitcoin spent 280 consecutive days below its estimated average production cost of $85,000, exceeding the 224-day record set in 2018. While the price briefly touched this threshold this week, it has since retreated. The report highlights that miners are increasingly shifting power resources toward AI operations, which offer more stable and predictable revenue compared to mining. Consequently, the network hash rate has declined by approximately 19% from its October 2025 peak.