🚨 CRITICAL COST ANALYSIS: $BTC MINING BREAKEVEN HITS $67,700! 🚨

Ki Young Ju of CryptoQuant reveals the TRUE cost of production for major miners like MARA Holdings based on Q3/2025 data. This isn't just energy; it's hardware depreciation, labor, and debt servicing.

• Average cost per $BTC now calculated near $67,704.

• This shatters old psychological support zones like $40k–$50k.

• Post-Halving 2024, hash rate surges force miners to spend more just to maintain output.

When price nears this level, expect miner capitulation pressure. Sustained trading above this metric signals a healthy, supply-constrained market structure. $BTC is increasingly priced by production costs, not just speculation.

#Bitcoin #CryptoQuant #Mining #BTCAnalysis 🚀

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