Bitcoin Hashrate Drops 12% Over Four Months

The hashrate of Bitcoin has dropped to 970 EH/s, marking its lowest point since September 2025, primarily due to severe winter storms in the U.S. that forced many local miners offline, according to CryptoQuant.

This decline, approximately 12% over the last four months, is the most notable since 2021 when crypto mining faced a crackdown in China.

On January 24, the hashrate reached a low of 690 EH/s after the mining pool Foundry USA halted most of its operations.

Market analysts observed that the downturn in hashrate began prior to Bitcoin's price drop from $126,000 to $100,000.

Mining revenues have plummeted, with daily earnings decreasing from $45 million to a yearly low of $28 million before rebounding slightly to around $34 million. This trend reflects both reduced block production and a challenging pricing landscape, as noted by CryptoQuant.

Mining companies are facing significant profitability challenges, with the profit/loss resilience index falling to its lowest level since November 2024, now at 21. Researchers have indicated that current conditions create extremely low profitability for miners, despite several adjustments made to account for these difficulties.

In a notable event on January 20, a solo miner successfully mined block #933034 in the Bitcoin network, receiving a reward of 3.131 BTC, worth approximately $289,191.