Bitcoin’s Falling Hashprice Puts Squeeze on Mining Margins
As of 2:30 p.m. Eastern time, bitcoin has been on a wild ride, swinging between $100,175 and $107,302 per coin while sliding 5% against the greenback. On some exchanges, like Bitstamp, bitcoin dipped below the $100K mark.
Data from hashrateindex.com shows bitcoin’s hashprice — the going rate for a single petahash per second (PH/s) of SHA256 hashrate — now sits at $40.85. Just eight days ago, it was a healthier $49.61 per PH/s, a 17.66% difference that miners are definitely feeling.
It’s hardly a dream week for bitcoin miners watching value melt away, but this slump has been brewing since July. Back on July 11 — 116 days ago — the hashprice clocked in at $63.92 per PH/s. Fast forward to Nov. 4, 2025, and miners are pocketing 36.09% less for the same hashpower. Even with hashprice slipping, bitcoin’s network is still flexing some serious muscle—cranking out over a zettahash, or more than 1,000 exahash per second (EH/s).
At press time, roughly 1,111.99 EH/s are securing the chain, keeping things humming along. Block intervals remain near the 10-minute sweet spot, and for now, difficulty projections for Nov. 12 suggest barely a blip of change. If prices keep dipping while difficulty stays high, miners could be staring down a profitability crunch — especially those running older rigs or paying steep energy rates.
The combination of lower hashprice and unrelenting hashrate could force smaller operations to shut off machines, consolidating power among industrial-scale farms. On the flip side, a rebound in bitcoin’s price or a difficulty adjustment easing the strain could turn the tide. Cheaper energy, more efficient hardware, or renewed market optimism might help miners breathe again — but for now, it’s a waiting game in a high-voltage business.
