Bitcoin mining hashprice stays flat despite higher difficulty: Report
The Bitcoin mining landscape has entered a phase of uncertainty, as the hashprice—the daily revenue miners earn per unit of hashing power—has stabilized at approximately $48 per petahash per second (PH/s). This comes amidst a slight 1.4% increase in Bitcoin’s mining difficulty, which has now reached 113.76 trillion at block 889,081, as reported by data from CoinWarz. The mining difficulty’s rise from a previous 112.1 trillion highlights the increasing competition among miners and the potential strain on profitability.
According to TheMinerMag, miners operating older hardware, like the Antminer S19 XP and S19 Pro, are experiencing heightened financial pressure as the hashprice hovers below $50. This situation poses a significant risk, as the declining network transaction fees combined with increased mining difficulty may eliminate profitability for some. Miners may be forced to suspend operations and postpone hardware upgrades unless favorable market conditions arise.
The repercussions of the April 2024 Bitcoin halving—a pivotal event that halved the block subsidy to 3.125 BTC—continue to resonate through the mining industry, contributing to increased operational challenges. Coupled with recent downturns in the broader crypto markets due to ongoing macroeconomic uncertainties, these factors have created a challenging environment for miners.
Recent research by financial services firm JPMorgan indicates that publicly listed Bitcoin mining companies suffered a collective share value decline of 22% in February 2025. The report suggests that even miners branching out into artificial intelligence and high-performance computing to mitigate losses from traditional mining activities are grappling with financial pressures. JPMorgan identified the release of DeepSeek R1—an affordable, open-source AI model that competes effectively with more expensive, proprietary options—as a key strain on resource-intensive AI data centers.
Additionally, the Bitcoin network’s hashrate, a measure of the total computing power utilized in mining, continues to trend upward in the long term, despite short-term fluctuations. However, this rising hashrate heightens competition among miners, necessitating increased resource allocation to maintain profitability.
Moreover, geopolitical tensions, particularly fears surrounding a potential trade war between the United States and Canada, loom over the mining industry. Canadian officials have hinted at imposing tariffs on energy exports, compounding the difficulties already faced by miners in this fluctuating economic landscape.
As these multifaceted challenges mount, the future landscape of Bitcoin mining is fraught with unpredictability, leaving many to contemplate the sustainability of their operations amidst these evolving conditions.
