According to the most recent data, Bitcoin’s hashrate has dipped beneath the 800 exahash per second (EH/s) threshold, coinciding with a 30-day low in mining revenue, commonly referred to as hashprice. As of Friday, the hashprice is hovering just below $50 per petahash per second (PH/s), marking a notable decline in miner profitability.
Bitcoin Miners Feel the Pinch
Bitcoin’s descent below the $80,000 threshold on Thursday proved less than ideal for miners, as their earnings took a significant hit. As of now, with bitcoin (BTC) climbing back above $83,000, the hashprice—or the estimated value of 1 PH/s—has seen a slight recovery but remains at its lowest level since Jan. 28.
Bitcoin hashrate via hashrateindex.com
On Thursday, the hashprice dipped to $45.41 per petahash, and as of 3:30 p.m. Eastern Time on Friday, it has inched up to $48.65 per petahash. Just 30 days ago, the hashprice was a more favorable $60.19 per PH/s, highlighting the recent challenges faced by BTC miners. Bitcoin’s hashrate also experienced a significant peak in February, climbing to 852 EH/s on Feb. 7, 2025.
However, with the current rate at 799 EH/s, the network has shed over 50 EH/s of its computational strength, marking a noticeable shift in processing capacity. The reduction in hashpower coincides with a 3.15% decline in Bitcoin’s difficulty, which occurred five days ago on Feb. 23 at block height 885,024. Currently, the network difficulty rests at 110.57 trillion, with the next adjustment anticipated to take place on March 9.
While official metrics remain incomplete as Feb. 28 has not yet concluded, it appears bitcoin miners have extracted less value this month compared to January. According to data gathered from theblock.co, miners generated $1.4 billion from block subsidies and fees last month. However, this month’s tally stands at $1.21 billion, with just three hours and 20 minutes left before February draws to a close.
