Expert calls the revival of crypto mining in the PRC “one of the most important signals” for the market. Crypto mining in China is experiencing a “quiet revival.” The country’s share of global hashrate has risen to 14%, Reuters reports.
Despite Bitcoin (BTC) dropping to around ~$91,000, miners are not panicking — they are acting strategically. According to CryptoQuant, the main wave of selling is already behind us.
A key profitability metric — the hashprice — has dropped to levels where many small miners find it unprofitable to mine Bitcoin (BTC), raising questions about the sustainability of the entire industry.
Bitcoin mining corporations MARA Holdings and Hut 8 reported strong third-quarter results on Tuesday, both posting sharp increases in profits and expanding their bitcoin reserves.
According to a report by Riot Platforms, the cost of mining the leading cryptocurrency in 2024 amounted to $35,376 per coin. The 52% increase in global hashrate raised overall expenses, although part of the costs was offset through credit facilities.
In October, China accounted for 14.06% of global Bitcoin hashrate. The country has adopted a so-called “cypherpunk mining method” — as long as miners have access to power and hardware, underground operations continue to extract BTC while avoiding detection by authorities, according to Luxor analysts.
According to CryptoQuant, since October 9, roughly 51,000 bitcoins have been transferred from miners’ wallets to Binance. During this period, the total value of their deposits exceeded $5.6 billion in BTC.
On Friday, Bitcoin’s mining difficulty, a metric reflecting the relative complexity of adding new blocks to the ledger, reached a new all-time high of 142.3 trillion.
Mining company Hut 8 has announced the launch of four new sites in the US states of Texas, Illinois, and Louisiana.
This week, Bitcoin’s mining difficulty reached a record high of 127.6 trillion, making it harder than ever to mine new blocks. Miners now require more computational power to solve the problems needed to validate transactions and earn rewards.
MARA (formerly Marathon Digital) released its financial report for Q2 2025. The company’s revenue increased by 64% compared to the same period last year.
On July 26, during the latest adjustment, Bitcoin’s mining difficulty increased by only 1.07%. However, that was enough for the metric to reach an all-time high of 127.62 T.
Miners now have less than 6% of all bitcoins left to mine. Out of the total 21 million BTC supply, 19.9 million coins have already been created — nearly 95% of the total.
The metric has approached the all-time high recorded in May of 126.98 T. After the difficulty adjustment, the average network hashrate dropped to 797 EH/s, while the block interval exceeded 11 minutes.
The KULR Technology Group has launched 3,570 S19 XP miners from Bitmain at facilities in Asunción (Paraguay), according to a press release.
The past few months have not been easy for miners. Mining profitability has fallen to the lowest levels ever recorded, while Bitcoin continues to fluctuate near the $60,000 level.
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