Bitcoin (BTC) mining hashprice (miners’ daily revenue per unit of hash power spent on mining blocks) remains constant at around $48 per second (PH/s) per second, despite a mere 1.4% increase in Bitcoin difficulty.
Coinwarz data shows that Bitcoin’s difficulties rose to 113.76 trillion in block 889,081 on March 23, up from the previous epoch’s 112.1 trillion difficulty.
According to Theminermag, a hashprice under $50 puts financial stress on miners running old hardware like the Antminer S19 XP and S19 Pro.
Older hardware, coupled with a lower network transaction fee, risks some miners push them into unprofitable territory. Turn off the hardware until you upgrade application-specific integrated circuits (ASICs) or changes to network conditions.
Mining companies have been struggling since the Bitcoin Harving event in April 2024, with block subsidies reduced to 3.125 BTC per mined block, increasing network difficulty in general, and a crypto market recession due to recent macroeconomic uncertainty.
The difficulty of bitcoin mining. Source: Coinwarz
Related: SEC says proof of work mining does not constitute a securities in the transaction
Miners are off to a rough start until 2025
A study by financial services company JPMorgan shows that publicly available Bitcoin mining companies collectively lost 22% of their share price in February 2025.
JPMorgan reports that even miners who diversified their operations into artificial intelligence and high-performance computing data centers to generate lost revenue through mining activities are generating lost revenue through mining activities.
The financial services company cited the release of Deepseek R1, an open source AI model trained at some cost as a major model as a stock in a large AI data center, and at the same cost as a closed source AI product.
The hashrate of the Bitcoin network vibrates in the short term, but the long term trend is only up. Source: Cryptoquant
The steadily rising network hashrate, the total total computing power of Bitcoin networks, is also creating increased competition among miners who have to spend more computing resources to maintain profitability.
The fear of a long-term trade war between the US and Canada protects miners, along with constant tariff headlines.
The threat from Canadian officials is putting even more pressure on tariffs on tariffs on energy exports to the US, already struggling industries.
Magazine: Lifting the cipher ban on Korean companies, Crypto-mining HDS: Beware of Asia Express
