Bitcoin mining is facing significant challenges at the start of 2025. The increase in network difficulty and macroeconomic factors are heavily impacting the industry.
Current Situation with Bitcoin Hashrate
The Bitcoin hashrate remains stable around $48 per petahash per second, despite a 1.4% increase in network difficulty. This creates additional pressure on miners with older equipment like the Antminer S19 XP and S19 Pro. Many of them are at risk due to declining transaction fees and are forced to either upgrade their hardware or temporarily cease operations.
Financial Struggles of Public Companies
According to JPMorgan research, publicly listed Bitcoin mining companies lost 22% of their market value in February 2025. Even those that diversified operations by incorporating AI and computing centers face financial challenges.
Global Threats to Mining
The increasing Bitcoin network hashrate is also leading to intensified competition among miners. Fears of a potential trade war between the US and Canada, and threats to levy tariffs on energy exports add further risks to the industry.
Bitcoin mining in 2025 is under pressure from rising costs and changing economic environments. Companies are compelled to seek new ways to maintain profitability.
