JPMorgan Chase: Bitcoin production cost drops to $77000 Morgan Stanley analyst report shows that the estimated production cost of Bitcoin has decreased from $90000 at the beginning of the year to $77000, mainly due to the decrease in network computing power and mining difficulty. Analysts pointed out that the severe winter storm in the United States and the exit of high cost miners from the market have led to a decline in computing power, but signs of a rebound in computing power have been observed so far. The JPMorgan team expects institutional investors to dominate the growth of the cryptocurrency market and maintain Bitcoin's long-term target price of $266000.