Overview
- Hashrate Index reported a quarter-over-quarter slide in the network’s 30-day average from about 1,066 EH/s to 1,004 EH/s, the sharpest drop in several quarters.
- Bitcoin’s price fell roughly 50% from its October 2025 peak, pushing hashprice to a record low near $27.89 per PH/s per day and cutting miner revenue.
- About 252 EH/s of older mining capacity shut down as less efficient rigs, often above roughly 25 J/TH or facing power near $0.06 per kWh, slipped into negative margins.
- Iran’s national hashrate fell from about 9 EH/s to 2 EH/s after strikes disrupted power for an estimated 427,000 machines, yet global hashrate held near 1,000 EH/s as activity shifted elsewhere.
- The United States, Russia, and China still control about 65% of mining power while lower-cost hydro markets like Paraguay at roughly 4.3% and Ethiopia at about 2.5% gained share, and a new U.S. bill seeks to onshore mining hardware and build a Strategic Bitcoin Reserve.