Thomas Daniels
Bitcoin’s network computing power has reached unprecedented levels, even as miners accelerate Bitcoin sales to navigate tightening profit margins.
According to data from BitInfoCharts, Bitcoin’s hashrate achieved a historic milestone of 1 sextillion hashes per second on April 5, 2025. This record figure reflects the network’s robust security and growing computational strength despite significant economic pressures facing miners.
However, the surge in hashrate contrasts sharply with declining miner revenues. Blockchain analytics firm Newhedge reported that Bitcoin mining revenue dropped nearly 50% year-over-year in March 2025, falling to approximately $1.2 billion. The latest Bitcoin halving, which reduced block subsidies to 3.125 BTC in April, has exacerbated the situation, making transaction fees an increasingly critical component of miner income. Yet, with transaction fees remaining subdued and many blocks arriving empty, profit margins continue to shrink.
Data from TheMinerMag reveals that publicly traded Bitcoin mining firms sold over 40% of their Bitcoin production in March, marking the highest sell-off rate since October 2024. The report highlights that “miners may be responding to tightening profit margins amid persistently low hashprice levels and growing trade war uncertainty.”
Several companies have taken more drastic measures. Firms such as HIVE Blockchain Technologies, Bitfarms, and Ionic Digital reportedly sold over 100% of their March Bitcoin production, indicating strategic asset liquidations beyond new mining outputs. Meanwhile, other companies, including CleanSpark, appear to be recalibrating their operational strategies to weather the evolving economic landscape.
As miners contend with diminished rewards and increasing operational costs, the coming months are poised to test the resilience of Bitcoin’s mining sector.
