<p><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zYjYzMTA2NGZhM2IzYjIyYmE4M2VmZDQxZGI0YjBmYS5qcGc=.jpg"></p><p>CoinShares projects the average cost of production for crypto miners post-halving at $37,856 per Bitcoin. </p>