According to Huoxing Finance, Matthew Sigel, Head of Digital Assets Research at VanEck, posted on X that Bitcoin’s hash rate is approaching its historical high at 1,038 EH/s, with the next halving scheduled for April 2028. He stated that an S21 XP miner priced at $3,459 would require an average Bitcoin price of approximately $100,000 from now until the halving to break even, assuming an electricity cost of $0.08, constant hash rate, and three-year depreciation. To achieve cash payback by the end of 2028, the Bitcoin price would need to reach around $116,000. The current BTC price is $77,500.
VanEck Analyst: Bitcoin Needs a $100,000 Average Price to Reach Miner Break-Even
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Summary
VanEck analyst Matthew Sigel said Bitcoin’s price needs to average $100,000 during the 2028 halving for miners to break even. With the hash rate near 1,038 EH/s, he calculated that an S21 XP miner would require $116,000 by 2028 to cover costs. The current BTC price is $77,500. Altcoins to watch may gain traction if Bitcoin struggles to meet these targets.
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