U.S. bank JPMorgan Chase (NYSE: $JPM) says the current rally in Bitcoin (CRYPTO: $BTC) is likely to provide some relief to companies that mine the cryptocurrency.

JPMorgan says Bitcoin’s price has now moved above its estimated production cost of $85,000 U.S., potentially easing pressure on crypto miners and lessening the risk of forced selling.

Bitcoin had spent 280 days below the estimated average cost of producing one BTC using banks of powerful computers, according to JPMorgan crypto analyst Nikolaos Panigirtzoglou.

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