June 23 (Cointime) - According to a report by JPMorgan, Bitcoin miners who have low electricity costs and a sustainable energy mix are the only ones likely to survive in an increasingly competitive environment. The cost of electricity is the main expense in mining, and miners have been seeking cheaper and more sustainable energy sources to protect their profitability.

Electricity prices have been falling, particularly in the US, where most Bitcoin mining firms are based. The report notes that miners with higher electricity costs have been struggling to survive due to falling Bitcoin prices over the past year, and that over time the industry will consolidate and become more competitive, with only miners with lower production costs able to survive.