Bitcoin (CRYPTO:BTC) miners face profitability challenges due to rising production costs, with Bitcoin prices hovering around or below these costs.

Data shows the average cost to mine a single BTC was $83,668 in June, dropping to $72,000 in July.

Many miners, including Bit Digital and Riot Platforms, spend above the average production cost.

Only a few ASIC machines remain profitable, with breakeven prices ranging from $39,581 to $54,424.

The recent drop in Bitcoin mining difficulty may improve profitability for some machines.

However, many miners are shutting down unprofitable machines and selling off BTC, signaling significant industry stress.