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News · Nov 11, 2026 · 4 min read

Bitcoin today: $73,518 on hot US inflation, December hike priced in, Bitdeer mined 3,855 BTC

US consumer prices rose 0.4% in October, more than forecast, and bitcoin fell to its lowest since August as traders priced a Federal Reserve rate rise for 9 December. Bitdeer mined 3,855 bitcoin in the quarter at 4.7 cents a kilowatt-hour. A coin still costs about $19,520 to make on the best machine in stock.

Firsthand card: "Bitcoin today: $73,518 on hot US inflation, December hike priced in, Bitdeer mined 3,855 BTC".

October inflation came in at 0.4%, and bitcoin fell to its lowest since August

The US consumer price index rose 0.4% in October on a seasonally adjusted basis, the Bureau of Labor Statistics reported on Tuesday, against a 0.3% forecast. The index excluding food and energy rose 0.3%, also a tenth above expectations. Shelter rose 0.3% and accounted for over thirty percent of the monthly increase, energy rose 0.7% after a 5.2% jump in September, and food rose 0.5%. There is no twelve-month figure: the BLS says it cannot publish one because October 2025 prices were never collected during last year's lapse in government funding.

Bitcoin dipped to $73,518 at the Tuesday Wall Street open, nearly matching Sunday's low and its lowest level since 21 August, Cointelegraph reports, before returning above $74,000. The Block had it at $73,363 in the afternoon, down 1.6%, with ether down 3.7% at $2,042. Bitget analyst Lewis Huang told The Block: "For Bitcoin, higher yields and a stronger dollar could add to recent selling pressure."

Our own series has bitcoin at $75,215 for 10 November and $73,940 when it updated this morning. Futures exchanges force-closed $177 million of bitcoin longs and $27 million of shorts on Tuesday on our liquidations chart, the largest day for longs since Sunday's $222 million. The Fear & Greed Index read 32 on Tuesday and 29 this morning, and the US spot ETFs lost $201 million on Monday on our ETF flows chart.

Chart: Bitcoin's price since August. Tuesday's dip took it back to where it was on 21 August, before the autumn rally to $86,000. Open the chart

Traders now price a quarter-point rise on 9 December

The Federal Reserve held its policy rate at 3.75% to 4% on 28 October, its statement said, by a vote of ten to two. Governors Lisa D. Cook and Beth M. Hammack voted against, preferring to raise the range by a quarter point. The statement called economic activity "strong" and said "Inflation remains elevated."

After Tuesday's inflation figure, CME FedWatch put the odds of a quarter-point rise at the 9 December meeting at 85.3%, with the remaining 14.7% on a half-point rise, according to Cointelegraph. Before the release the market had priced a 96.3% chance of a quarter point. The Nasdaq opened 0.6% lower and recovered, while Nvidia fell nearly 4% as its board investigates whether its chief executive was targeted by a foreign intelligence effort.

Bitdeer mined 3,855 bitcoin in the quarter and paid $47 a megawatt-hour

Bitdeer Technologies reported its third quarter on Tuesday in a filing with the SEC. Revenue was a record $320.7 million, up 89% on a year earlier, of which self-mining was $217.5 million. The company mined 3,855 bitcoin in the three months to 30 September, about 42 a day, with an average self-mining hashrate of 79.6 EH/s, up 173.5% on the year. It reports an average electricity cost of $47 a megawatt-hour, which is 4.7 cents a kilowatt-hour.

Sales of its own SEALMINER machines fell to $0.3 million from $11.4 million a year earlier, as the company keeps the machines it builds for its own fleet. AI cloud revenue was $20.4 million and Bitdeer says its AI cloud backlog has grown to about $2.9 billion. The net loss was $125.5 million, including a $54.6 million non-cash loss on a loan secured on its bitcoin. The 4.7 cent figure sits between the 3.9 cents of our Nigeria site and the 6 cents of the UAE and Argentina, the rates on our sites page.

Twenty-one banks put $270 million behind a dollar stablecoin

Goldman Sachs, Citigroup, Santander and Deutsche Bank are among the banks that have committed about $270 million to a joint dollar stablecoin venture, Yahoo Finance reports, citing Bloomberg. The money funds five years of running a planned US issuer that targets a 2027 launch. The project, called Project Faro by its 21 members, has no chief executive or company name yet.

A bank-issued dollar token is a payment rail, not a mining story. It matters to a miner only in that the banks are building on public blockchains rather than against them.

North Korea's launderers minted meme coins to move $430,000 of the Binance haul

The blockchain analytics firm Elliptic reported on Monday that the launderers of last month's Binance theft created six meme tokens on the NEAR Protocol, at about $90 each, and passed roughly 117,000 NEAR, worth about $430,000, through them. That is a tiny slice of the $6.4 billion stolen. "The launderers' tokens are made to be used once and thrown away," Elliptic writes.

The FBI named North Korea for the theft on 31 October. We covered the hack itself, the $3 billion frozen and the bitcoin that has not moved in our piece on the Binance hack.

Difficulty is on course to fall 6.9% in about two days

Our estimate for the next difficulty reset stood at −6.90% on 10 November with 408 blocks to go, and at −6.89% this morning with 341. At the current pace the reset lands around 13 November. The network found 135 blocks on Tuesday, up from 111 on Sunday and Monday, the fewest since June. Hashprice, what a petahash earns in a day, was $32.10 on 10 November.

A 6.9% cut hands each petahash about 7% more coins from the day it lands, on the arithmetic we set out in the difficulty piece. The final figure is set by the blocks still to come.

What it means for miners

A bitcoin costs about $19,520 to make on the most efficient machine in stock, the S23 XP Hyd, at Nigeria's 3.9 cents a kilowatt-hour, against a market price of $73,940 this morning. That is about 26% of the price, in electricity.

A lower price with a difficulty cut days away is when an efficient machine on cheap power stacks the most coins per dollar of electricity. Earnings are not guaranteed, and these figures hold today's conditions flat.

Sources and further reading

Disclosure

Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.