Bitcoin Hashrate Recovers: Miners Cope With Revenue Drop

Bitcoin's hashrate has made an impressive recovery from its 752 exahash per second (EH/s) decline on February 25 and has now risen to 819.65 EH/s despite a significant drop in revenue in March.

Revenues are falling, hashrate is increasing

The network’s computing power has increased and is now above 67 EH/s, up from its low on February 25. On that day, the hashrate dropped to 752 EH/s, but has now stabilized at 819.65 EH/s, according to data based on a seven-day simple moving average (SMA) from hashrateindex.com. The hashrate is currently about 30 EH/s below its all-time high, set on February 8, 2025.

Source: Hashrateindex.com data captured at 12:30 PM ET on March 17, 2025.

This rise comes at an interesting time, especially considering that revenue has dropped significantly since the hashrate’s nadir. On February 25, the hash price — the amount miners receive for 1 petahash per second (PH/s) of computing power per day — was $53.89 per petahash. Fast forward to March 17, and that figure had dropped to $46.87 per petahash, indicating a 13.03% drop in revenue.

Foundry currently leads the way with around 264 EH/s, making it the largest mining pool by hashrate. Antpool follows closely behind with 159 EH/s, and Viabtc is close behind with 115 EH/s. These three pools combined account for around 538 EH/s, which is around 65.63% of the total of 819.65 EH/s. The data also shows that there have been two contrasting difficulty adjustments between the February 25th low and today, with the first recording a 3.15% drop, followed by a 1.43% increase.

Despite the decline in revenue, the recovery in Bitcoin’s hashrate shows that miners are finding ways to continue their operations. Large players like Foundry, Antpool, and Viabtc control a significant share of the network, indicating a continuing trend toward consolidation. Despite changes in difficulty levels and fluctuations in profits, the mining world remains active, demonstrating that Bitcoin’s proof-of-work (PoW) system is able to adapt and evolve in the face of change.

Source: cryptonews.net