Analyst: The current BTC mining cost is about $36800, and the miner's profit margin is comparable to November 2022 CryptoQuant analyst Axel Adler Jr stated in a post that the average cost for BTC miners to mine is currently around $36800 per coin. The price difference between the current BTC market price and the cost of mining a single BTC is 182%. This is basically the average profit margin. This level corresponds to the beginning of the bull market cycle in November 2022 and the peak price of $100000 in this cycle. A price increase beyond this level will restore miners' earnings to the level after the last halving and reach excess profits comparable to those at the beginning of the bull market in January 2023.