SwanDesk CEO warns of BTC price collapse as mining profitability hits 10-year low

Jacob King, CEO of SwanDesk, has predicted that BTC will soon collapse, citing worsening mining profitability. He warned that the cost to mine one BTC is currently $112,000, while the asset's price is only $86,000 and falling rapidly. King stated that BTC mining has entered its least profitable period in the last decade, adding that it is only a matter of time before miners halt operations, leading to a chain reaction of price collapses.