Miners face record-high difficulty and low earnings, forcing shutdowns among small and mid-level operators.
Network security remains strong now, but prolonged miner exits could weaken decentralization and stability.
Future survival depends on Bitcoin price growth, energy efficiency, and adopting alternative revenue streams.
The Bitcoin mining industry is going through one of its toughest phases in years. The network is now more secure with record-high computing power, but miners are struggling to make ends meet. This situation has created a major gap between the strength of the Bitcoin system and the financial health of the people who keep it functional.
The total computing power or hash rate has reached new highs in late 2025. The global hash rate recently touched 1.1 zettahashes per second (Zh/s), which is the highest level yet. Mining difficulty also climbed to 156 trillion, which shows how hard it has become to mine a single block. These numbers show a very strong and secure network that is difficult to attack.
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Even with such strong security, miner earnings have dropped sharply. Hashprice, which measures how much miners earn for each unit of computing power, has fallen to its lowest point.
In early November 2025, hashprice dropped to 43.1 per PH/s per day, and later fell below 35 per PH/s, marking a new low. The block reward still stands at 3.125 BTC, but competition has increased. More miners are working on the network, and the fixed reward is being divided among them. The result is less income for each miner.
Rising electricity costs and expensive hardware also add pressure. Many small mining units cannot cover their daily expenses and are shutting down their machines.
Several factors are pushing profits down. More miners entered the industry when Bitcoin prices were higher. This increased competition and raised the difficulty level. The block reward, however, remains fixed.
As more miners join the race, each miner receives a smaller share. Electricity prices have also increased across many regions, making operations more costly. These conditions have made it very hard for medium and small miners to survive. Many large mining firms still continue because they have access to cheaper energy and more efficient machines.
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The network remains secure for now because of the high hash rate. However, the financial strain on miners can lead to long-term issues. If more miners shut down their machines, the total computing power could fall. A drop in hash rate can make the network more vulnerable and less decentralized.
The crisis is also leading to consolidation. Large companies with stronger budgets are taking control of a bigger share of the mining market. This changes the structure of the industry and reduces the space for smaller operators.
A significant rise in Bitcoin’s market price could increase the reward value and support miners again. Better and more efficient mining hardware can reduce electricity usage. Some miners are shifting to renewable energy sources to cut costs. Others are using their data centers for cloud services or AI computing to balance their losses.
The mining sector needs major adjustments to stay profitable. The current crisis shows how much pressure the industry is under. Strong network security continues, but the mining ecosystem must adapt to survive in the long run.
1. Why are Bitcoin miners struggling even though the network is stronger?
Hash rate is at record highs, so rewards are shared among more miners. With fixed block rewards and rising electricity costs, earnings have dropped sharply.
2. What caused miner profits to fall to their lowest levels in 2025?
Hashprice fell below 35 PH/s as more miners joined the network. Competition grew, difficulty increased, and electricity and hardware prices cut margins.
3. Why are small and medium-scale miners shutting down operations?
Operating costs now exceed daily revenue. Smaller miners pay higher power rates and lack efficient hardware, making it impossible to stay profitable.
4. How can the Bitcoin mining situation improve in the future?
A rise in Bitcoin price, more energy-efficient machines, cheaper power, and diversifying into AI or cloud services could make mining profitable again.
5. Does the miner crisis pose a risk to Bitcoin network security?
Not immediately, since the hash rate is still high. However, if many miners quit, computing power may drop, risking decentralization and long-term security.