GoMining: The Bitcoin Network Has Entered a New Zetahash Era
According to GoMining, at the end of 2025 the average daily hashrate of the Bitcoin network remained above the 1 ZH/s level for seven consecutive days. The increase in computing power was the result of large-scale hardware upgrades and the expansion of data centers.
Small players are now gradually exiting the market, while the industry increasingly resembles the energy sector with high barriers to entry, analysts noted.
“However, despite the record growth in computing power, revenue per unit of hashrate is declining. Miners’ earnings are now almost entirely dependent on the price of bitcoin and the current level of network difficulty. Previously, temporary spikes in fees and block-finding bonuses provided additional support, but today these ‘safety cushions’ have virtually disappeared,” GoMining explained.
After the most recent halving in April 2024, the situation worsened: the block reward fell to 3.125 BTC, and transaction fees did not compensate for the loss of revenue, accounting for less than 1% of total payouts. As a result, miners have become almost completely dependent on fluctuations in the price of bitcoin, experts noted.
Analysts emphasized that the current situation makes the mining market more mature and professional, while at the same time more sensitive to price volatility. This could increase pressure on industry participants if the leading cryptocurrency’s prices continue to decline.
Earlier, specialists from crypto asset management hedge fund Capriole Investments reported that in January the average cost for mining companies to produce one bitcoin reached $74,300.
See also: "Tether Released an Operating System for Bitcoin Mining"
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