Analysis: The current cost of mining one BTC is approximately $36,800, and the miner's profit margin is similar to that of November 2022.

BlockBeats News, May 13th, CryptoQuant analyst Axel Adler Jr posted on Platform X stating that the current average cost for BTC miners is around $36,800 per coin. The current gap between the BTC market price and the cost of mining a single BTC is 182%. This is essentially the average profit margin.

This level corresponds to the start of the bull market cycle in November 2022 and the $100,000 price peak of this cycle. A price increase beyond this level would bring miner revenue back to the level seen after the previous halving and achieve significant excess profits comparable to those at the start of the bull market in January 2023.