Bitcoin (BTC) mining hashprice remains constant despite difficulty climbing

The Bitcoin (BTC) mining hashprice — a miner's daily revenue per unit of hashing power expended to mine blocks — has remained constant at around $48 per petahash per second (PH/s)

The Bitcoin (BTC) mining hashprice, a measure of a miner's daily revenue per unit of hashing power expended to mine blocks, has remained constant at around $48 (R828) per petahash per second (PH/s) despite a slight 1.4% uptick in Bitcoin difficulty, data from CoinWarz shows.

Bitcoin difficulty climbed to 113.76 trillion at block 889,081 on March 23, up from the 112.1 trillion difficulty in the previous epoch.

According to TheMinerMag, a hashprice below $50 is known to place financial stress on miners running older hardware such as the Antminer S19 XP and S19 Pro, which are still the primary models deployed on the network.

The older hardware is less efficient at burning electricity into hashing power, and with transaction fees continuing to decline from their January highs, it could push some miners into unprofitable territory, forcing them to turn off their ASICs until network conditions change.

Bitcoin mining firms have been struggling since the April 12 halving event, which slashed the block subsidy to 3.125 BTC (R545,058) per block mined, generally increasing network difficulty and making it harder for miners to collect coins.

The recent downturn in the crypto markets due to macroeconomic uncertainty and unrest has also affected the industry.

Miners have a rough start to 2025

In February, publicly listed Bitcoin mining companies collectively lost 22% of their share value, according to financial services firm JPMorgan.

Even miners who diversified operations into artificial intelligence and high-performance computing data centers to shore up revenue lost through mining activities are facing financial pressures, the firm noted.

It added that the recent release of DeepSeek R1, an open-source AI model, which was trained for a fraction of the cost as the leading models and performs on par with closed-source AI products, will place further strain on large AI data centers to generate revenue.

Although the Bitcoin network’s hashrate oscillates in the short term, the long term trend is up-only.

A steadily rising network hashrate, which is the sum total computing power in the Bitcoin network, is also creating increased competition among miners, who must expend greater computing resources to remain profitable.

Fears of a prolonged trade war between the United States and Canada, alongside constant tariff headlines, have put miners on edge.

On March 22, Canadian officials threatened to place tariffs on energy exports to the United States, which would exert even more pressure on the already struggling industry.