Miners' average cost was $67.7K in Q3 2025, sell-off risk looms

Ju Ki-young, CEO of CryptoQuant, noted on X that according to the latest data released by Marathon Digital Holdings (MARA) in the third quarter of 2025, the average cost to mine Bitcoin was approximately $67,704. CryptoQuant Senior Analyst Julio Moreno added that at current price levels, it is highly likely that Bitcoin miners are operating at a loss. He explained that selling pressure from miners could increase if prices do not recover.