It now costs more to make bitcoin than the cryptocurrency is worth

It costs more money to make bitcoin than the cryptocurrency is worth. Producing a single bitcoin now costs $4060 on average, but it is valued at less than $3500, according to an analysis by JPMorgan Chase. Bitcoin relies on volunteers to process transactions. Their computers race to solve a mathematical puzzle once every 10 minutes. Finding a solution processes a batch of transactions and whoever gets there first is rewarded with some bitcoin. Purchasing and running these computers is expensive. As more people joined the race, the puzzles have become harder to solve, requiring more computer power.

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