Hashrate of the first cryptocurrency has fallen to 970 EH/s, the lowest level since September 2025. Winter storms in the U.S. forced local miners to disconnect from the network, according to CryptoQuant.
The value has decreased by approximately 12% over the past four months. This correction is the most significant since 2021, when Chinese authorities banned cryptocurrency mining.
On January 24, the hashrate (7DMA) hit a low of 690 EH/s following the shutdown of most equipment by the mining pool Foundry USA.
Analysts noted that the decline began even before Bitcoin dropped from $126,000 to $100,000.
Experts report that mining revenues have sharply declined amid falling prices and operational disruptions. Daily earnings from cryptocurrency mining fell from $45 million to a yearly low of $28 million in a short period, before partially recovering to around $34 million.
This reflects both a reduction in block production and a worsening price environment, according to CryptoQuant.
Furthermore, the profitability of mining companies has significantly deteriorated: the profit/loss resilience index has dropped to a low not seen since November 2024 — now at 21.
“The situation indicates extremely low profitability for mining companies under current price and mining difficulty conditions, even after numerous downward adjustments to the metric,” researchers added.
Recall that on January 20, a solo miner mined block #933034 in the Bitcoin network, earning a reward of 3.131 BTC ($289,191).