Bitcoin hashrate reaches 850 million TH/s by the end of March 2025

Bitcoin hashrate reached 850 million TH/s by the end of March 2025, data from Blockchain.com confirmed. This all-time high shows that more miners are joining the network.

Yerevan - Bitcoin hashrate reached 850 million TH/s by the end of March 2025, data from Blockchain.com confirmed. This all-time high shows that more miners are joining the network. It also indicates that the network is becoming more secure and harder to disrupt.

The increase in Bitcoin hashrate reflects rising mining activity. However, mining companies are now under pressure due to higher electricity rates and hardware costs. The sharp rise in Bitcoin mining costs is affecting both small and large players.

As the network gets stronger, Bitcoin becomes harder to attack, harder to ignore, and more justified in commanding a higher valuation. This isn’t just code. It’s economic gravity, said Thomas Jeegers, CFO and COO of Relai.

Bitcoin mining costs double since early 2024

According to Macromicro, Bitcoin mining costs rose to $88,000 per coin in 2025. This is almost double the amount miners paid in early 2024. The primary causes are high electricity prices and expensive ASIC machines.

Even though Bitcoin hashrate went up, miner profits did not increase at the same rate. Rising Bitcoin mining costs are putting pressure on margins. Smaller mining operations are struggling the most because they cannot buy electricity at lower bulk rates.

As energy markets remain volatile, the rising Bitcoin mining costs may continue to affect miners’ break-even levels. Companies must maintain high efficiency to stay profitable.

US miners face pressure from ASIC tariffs on Bitmain miners

US-based miners are also dealing with tariffs on mining hardware. ASIC tariffs on imports from China have been in place since 2018. These tariffs go up to 27.6%, according to SCMP.

Most mining machines come from Chinese firm Bitmain. Data from CoinMetrics shows that Bitmain miners account for 59% to 76% of Bitcoin hashrate. Popular models include the Antminer S19 and Antminer S21.

In early 2025, tighter customs checks and new trade measures delayed the delivery of Bitmain miners to US mining companies. ASIC tariffs are pushing up hardware prices and causing supply issues.

With Bitmain accounting for a majority of Bitcoin’s network hashrate, reliance on a single manufacturer, despite having distributed supply chains, presents a potential risk, said CoinMetrics.

Hut 8 and Trump family form American Bitcoin Corp

In March 2025, Hut 8 Corp. partnered with Eric Trump and Donald Trump Jr. to launch American Bitcoin Corp. The company plans to build a large Bitcoin reserve and operate as a major US mining firm.

The entry of a new player with capital access adds to the competition. However,ASIC tariffs and rising Bitcoin mining costs remain a challenge for all firms operating in the US.

As Bitcoin hashrate keeps increasing, operational efficiency and hardware access will be crucial for Bitcoin miners facing these pressures.