Share this article
Bitcoin Mining Profitability Slumps as Hashprice Falls to Multi-Month Low
Hashprice drops to $43.1 PH/s as bitcoin’s price correction, low fees and record hash rate squeeze miners’ margins.
Updated Nov 4, 2025, 1:59 p.m. Published Nov 4, 2025, 1:27 p.m.
What to know:
- Bitcoin’s hashprice, the expected daily value of 1 TH/s of mining power, has fallen to its lowest level since April amid a 20% BTC price decline and subdued transaction fees.
- Network hash rate remains above 1.1 ZH/s, pushing mining difficulty to an all-time high of 156T and prompting miners to diversify into AI and HPC data centers for steadier revenue.
Hashprice has plunged to its lowest level since April, when bitcoin was trading around $76,000, now sitting at $43.1 per petahash/second (PH/s).
Hashprice, a term coined by Luxor, refers to the expected value of one terahash per second (TH/s) of hashing power per day, representing how much a miner can earn from a specific amount of hashrate. It is influenced by bitcoin’s price, network difficulty, block subsidy and transaction fees.
As bitcoin has corrected roughly 20% from its October all-time high to $104,000, and transaction fees remain at bear market levels, miner revenues have come under increasing pressure.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to mempool.space, processing a high-priority transaction currently costs about 4 sat/vB ($0.58), while average transaction fees on an annual basis are at their lowest levels in years.
Hash rate, the total computational power used by miners to secure the bitcoin network, remains just below all-time highs at over 1.1 zettahashes per second (ZH/s).
This has coincided with a recent difficulty adjustment reaching an all-time high of 156 trillion (T), up 6.3%.
The difficulty adjustment recalibrates roughly every two weeks to ensure that new blocks are mined approximately every ten minutes, maintaining network stability as mining power fluctuates.
Declining bitcoin prices, low transaction fees and record-difficulty are all weighing on bitcoin mining profitability.
As a result, bitcoin miners have pivoted to AI and high-performance computing (HPC) data center operations to secure more reliable revenue streams. By locking in longer-term contracts with data companies, miners can stabilize cash flow and reduce reliance on volatile bitcoin market conditions.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Holds Near $92K as Selling Cools, but Demand Still Lags
ETF inflows have finally turned positive, but weak on-chain activity, defensive derivatives positioning, and negative spot CVD show a market stabilizing without the conviction needed for a sustained move higher.
What to know:
- Bitcoin markets in Asia are stabilizing but remain structurally weak, with short-term holders dominating supply.
- U.S. ETF flows have shown signs of stabilization, but on-chain activity remains near cycle lows, indicating weak capital inflows.
- Bitcoin and Ether have seen price recoveries driven by spot demand and improved sentiment, while gold is supported by U.S. labor data and Fed rate cut expectations.
Top Stories
