BTC Miners Need Low Electricity Costs, Sustainable Energy Mix to Survive: JPMorgan

“Vulnerable” miners, including Core Scientific (CORZQ), Argo Blockchain (ARB) and Iris Energy (IREN) have struggled to survive due to a “combination of falling bitcoin prices, rising debt servicing costs and rising electricity costs,” the analysts wrote. Miners with higher electricity costs have been facing losses due to falling bitcoin prices over the past year.