Bitcoin Miners Hit Breaking Point One Year After Halving

Bitcoin mining machines (Photo by Mark Felix / AFP)
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President Donald Trump vowed to make America "The undisputed Bitcoin superpower and the crypto capital of the world" at the Blockworks Digital Assets Summit on March 20th, 2025.
The key profitability metric, Hashprice, which measures miners’ daily earnings per petahash per second, has remained around $48/PH/s. This historically low hasprice coincides with a recent 1.4% increase in mining difficulty.
Flat Hashprice Masks Growing Industry Challenges
Hashprice reflects how much revenue miners generate from their computational power and is influenced by Bitcoin’s price, block rewards, transaction fees, and network difficulty.
While a stable hashprice might appear reassuring, it hides a growing squeeze on miners from all sides: rising costs, decreasing rewards, and a hypercompetitive global landscape.
Bitcoin Halving Cuts Miner Rewards as Fees and Prices Stay Low
The April 2024 Bitcoin halving slashed block rewards from 6.25 BTC to 3.125 BTC.