There is one price you can sell Bitcoin at: the market price.

There are two prices you can buy Bitcoin at: the market price and the mining price.

In bull markets, the market price of Bitcoin is well above the mining price. This incentivizes those holding Bitcoin to sell, and buy mining equipment. This is relatively common.

At this moment, you can buy Bitcoin on the market for well below what it costs you to mine Bitcoin. This is relatively uncommon.

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Discussion

Good data. Is there a version of the graph that isn't in grayscale?

Just say no to color.

Yea i guess we wouldn't want the graph axis to be discernible

when are we gonna see hashrate reduces?

Interesting perspective… Does this graph account for transaction fees?