VanEck Research Head: Bitcoin Needs to Average $100K for Miners to Break Even

Nov. 4 — Matthew Sigel, VanEck's head of digital asset research, posted on X that Bitcoin's hashrate is approaching an all-time high of 1038 EH/s, with the next halving in April 2028. He said a single S21 XP miner priced at $3,459 — assuming an electricity price of $0.08, unchanged hashrate and three-year depreciation — would need Bitcoin to average about $100,000 from now until the halving to break even; to achieve cash payback by the end of 2028, it would need about $116,000. BTC is currently priced at $77,500.