Bitcoin’s network strength has reached an all-time high this month, but behind the record-setting milestone lies a growing struggle among miners facing tightening profit margins and increasing economic pressure.
Historic Hashrate, Diminished Rewards
On April 5, Bitcoin’s hashrate soared to an unprecedented 1 sextillion hashes per second, according to BitInfoCharts—a new record that underscores the increasing computational power securing the network.
However, the surge in hashrate comes at a time when miner profitability is under serious pressure. Recent data from Newhedge shows that Bitcoin miner revenue in March 2025 dropped nearly 50% compared to the same month in 2024, falling to approximately $1.2 billion.
This decline is largely attributed to Bitcoin’s fourth halving, which occurred in early April, slashing block rewards from 6.25 BTC to 3.125 BTC. With transaction fees remaining low and many blocks going underutilized, miners are left with fewer income sources to sustain operations.
Miners Respond by Selling Reserves
To cope with reduced rewards and sustained operational costs, miners have begun offloading more of their BTC holdings. According to TheMinerMag, publicly traded mining companies sold more than 40% of their Bitcoin production in March—the highest rate of sales since October 2024.
Some firms went even further. The report highlights that HIVE, Bitfarms, and Ionic Digital sold over 100% of their March BTC production, indicating they may have dipped into reserves to stay afloat. Meanwhile, other companies like CleanSpark appear to be adjusting their strategy, possibly holding back in hopes of future price rebounds or improved mining conditions.
Trade War Adds to Uncertainty
Complicating matters further is rising global economic uncertainty, including ongoing U.S. trade tensions. The geopolitical landscape has cast a shadow over the crypto industry, particularly miners operating in jurisdictions affected by new tariffs and regulatory restrictions.
While Bitcoin’s hashrate continues to climb—potentially reflecting longer-term confidence in the network—the rising cost of competition, energy, and hardware, coupled with falling rewards, is forcing miners to make difficult financial decisions.
Final Thoughts
The record-breaking hashrate is a testament to Bitcoin’s resilience and decentralized security model. Yet behind the scenes, miners are under increasing financial strain, with many now liquidating holdings to survive. Unless transaction fees increase or Bitcoin’s price rises significantly, the next few months could present serious challenges for the mining sector—even as the blockchain itself grows stronger than ever.
