Bitcoin’s computing power just reached an all-time high — but behind the scenes, miners are under pressure.
On April 5, Bitcoin’s hashrate hit 1 sextillion hashes per second, a historic milestone according to BitInfoCharts. This surge in network power shows growing security and miner participation. Yet, it’s happening at a time when profits are shrinking fast.
📉 Miner Revenue Dives Despite Strong Network
While Bitcoin’s hashrate soars, miner revenue has dropped sharply. In March 2025, earnings fell nearly 50% compared to March 2024, reaching just $1.2 billion, according to data from Newhedge.
This drop stems from two main factors:
- April’s halving, which cut block rewards to 3.125 BTC
- Low transaction fees, with many blocks still not fully utilized
With both income sources underperforming, miners are forced to rethink their strategies.
💰 BTC Sell-Offs Spike Amid Tight Margins
To stay profitable, miners are increasing their Bitcoin sales. According to TheMinerMag, publicly traded mining companies sold over 40% of their BTC production in March. This marks the highest monthly sell-off since October 2024.
Some companies went even further. Firms like HIVE, Bitfarms, and Ionic Digital sold more than 100% of their March output, suggesting they’re dipping into reserves to cover costs. Others, like CleanSpark, appear to be tweaking their tactics in response to ongoing market stress.
The report ties the surge in sales to tightening margins, low hashprice, and growing global uncertainty, including potential trade tensions.
⚖️ What’s Next for Bitcoin Miners?
The current landscape paints a complex picture. On one hand, the record-high hashrate highlights confidence in Bitcoin’s long-term future. On the other, many miners are struggling to stay profitable post-halving.
Unless transaction fees rise or BTC price climbs substantially, more miners may be forced to liquidate holdings — or shut down altogether.
As the market adapts, all eyes are on how miners will navigate this challenging phase.
