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.
Amid Bitcoin’s price decline to levels not seen since February, the network hashrate has fallen sharply, with 145 exahashes per second (EH/s) leaving the system since late May.
Bitcoin miners finally had a reason to celebrate as their revenue posted its strongest growth in four months, surpassing the $1 billion mark for the first time since January. However, the momentum has slowed dramatically as Bitcoin fell below $66,000 on Tuesday before staging only a modest recovery the following day.
As a result of the latest adjustment, mining difficulty increased to 138.96 T (trillion), according to Cloverpool. This means miners need to calculate about 139 trillion hash functions on average to mine the new 3.125 BTC — roughly $229,000 at the current price of about $73,600.
The facility is called Muskie Data Campus. The miner acquired it from Industrial Equity Partners, with the transaction amount undisclosed. The site is located in the EastPark industrial park, near Ashland and Grayson. Its area is about 285 acres.
Bitcoin miners remain cautious and are not yet showing confidence that the market has completed its bottoming phase, according to analysts at the on-chain analytics platform CryptoQuant.
Companies involved in Bitcoin mining are increasingly expanding into artificial-intelligence infrastructure as major technology firms struggle to secure enough electricity for new data centres. On NYSE and across Wall Street, access to power is now viewed as the primary competitive advantage of Bitcoin miners, especially after the 2024 halving reduced mining profitability and forced companies to seek alternative revenue streams.
After the hashprice metric approached the $40 per petahash per second (PH/s) mark, the latest decline in Bitcoin’s price caused hashprice to fall, reducing mining profitability since May 14. The following day, the situation worsened further due to a difficulty adjustment, which increased mining difficulty by 3.12% compared to the previous epoch.
On Friday, May 15, 2026, shares of publicly traded Bitcoin mining companies experienced a sharp decline. In a single trading session, all major listed mining stocks dropped between 2.52% and 9.59%, despite significantly outperforming Bitcoin itself since the beginning of the year.
On May 15, following the latest network adjustment, Bitcoin mining difficulty increased by 3.12%, reaching 136.61 T.
Bitcoin mining company MARA released its first-quarter earnings report. For the January–March period, the company’s net loss increased to $1.3 billion, compared to $533 million during the same period last year.
In April 2026, the Bitcoin mining market continued its recovery after the winter correction period. The mining economics were influenced by the dynamics of Bitcoin network difficulty, the rise in $BTC market value, and the equipment placement parameters, as stated in the monthly equipment profitability report by Intelion.
Core Scientific announced its financial results for the first quarter of 2026. According to the company, it sold 2,385 Bitcoin during the period, generating approximately $208.3 million in revenue. However, the company also reported a net loss of $347.2 million for the same quarter.
Hut 8 announced the launch of the first phase of its Beacon Point AI campus in Texas. The company also signed a 15-year agreement to lease 352 MW of infrastructure with a base contract value of $9.8 billion.
Hut 8 has entered into a new credit agreement and reduced its borrowing costs. Bitcoin has become a key source of liquidity, allowing the company to unlock $260 million. The refinancing marks a shift in the miner’s financial strategy.
On May 2, following the latest network adjustment, Bitcoin mining difficulty decreased by 2.3%, falling to 132.47 T.
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