According to a research report published by JPMorgan, Bitcoin miners with low electricity costs and high sustainable energy sources will be the only companies that can survive in a competitive environment. The report states that the cost of electricity is the main factor in mining and affects the overall cost of Bitcoin production. It is emphasized that miners are trying to turn to cheaper and sustainable energy sources in order to maintain their profitability. The falling electricity prices in the US indicate that the US, where most Bitcoin mining companies are located, is the largest participant in Bitcoin hashrate. The report states that lower electricity costs could contain the increase in Bitcoin production cost at the current stage. It is also stated that the average electricity price for Bitcoin miners globally is around $0.05 per kilowatt hour, although some major mining firms can pay much less than that. JPMorgan predicts that over time, the Bitcoin mining industry will consolidate and become more competitive because only miners with lower production costs can survive. The report also states that miners are trying to diversify their power sources with renewable energy sources to be environmentally friendly.