On Tuesday, bitcoin’s spot value slipped greater than 5% towards the U.S. greenback, wiping out greater than $7,000 in worth for the reason that day’s first commerce. The drop hit miners proper within the hashpower—revenues tanked to ranges they haven’t seen since April 8, 2025, leaving many rigs buzzing simply to remain alive.
Bitcoin’s Falling Hashprice Places Squeeze on Mining Margins
As of two:30 p.m. Japanese time, bitcoin has been on a wild experience, swinging between $100,175 and $107,302 per coin whereas sliding 5% towards the buck. On some exchanges, like Bitstamp, bitcoin dipped beneath the $100K mark.
Information from hashrateindex.com exhibits bitcoin’s hashprice — the going charge for a single petahash per second (PH/s) of SHA256 hashrate — now sits at $40.85. Simply eight days in the past, it was a more healthy $49.61 per PH/s, a 17.66% distinction that miners are undoubtedly feeling.
Bitcoin’s hashprice on Nov. 4, 2025, based on hashrateindex.com.
It’s hardly a dream week for bitcoin miners watching worth soften away, however this droop has been brewing since July. Again on July 11 — 116 days in the past — the hashprice clocked in at $63.92 per PH/s. Quick ahead to Nov. 4, 2025, and miners are pocketing 36.09% much less for a similar hashpower. Even with hashprice slipping, bitcoin’s community remains to be flexing some critical muscle—cranking out over a zettahash, or greater than 1,000 exahash per second (EH/s).
At press time, roughly 1,111.99 EH/s are securing the chain, preserving issues buzzing alongside. Block intervals stay close to the 10-minute candy spot, and for now, issue projections for Nov. 12 counsel barely a blip of change. If costs preserve dipping whereas issue stays excessive, miners may very well be staring down a profitability crunch — particularly these operating older rigs or paying steep power charges.
The mixture of decrease hashprice and unrelenting hashrate might power smaller operations to close off machines, consolidating energy amongst industrial-scale farms. On the flip aspect, a rebound in bitcoin’s value or a problem adjustment easing the pressure might flip the tide. Cheaper power, extra environment friendly {hardware}, or renewed market optimism would possibly assist miners breathe once more — however for now, it’s a ready sport in a high-voltage enterprise.
