Bitcoin Hash Rate Reaches 1,000 EH/s Amid Falling Miner Revenue

Bitcoin's network just reached a historic high in hash rate, exceeding 1,000 exahashes per second, signaling stronger security and broader mining participation.

Bitcoin’s network hash rate has now surpassed 1,000 exahashes per second, a historic high reached in April 2025. This level of computing power signals stronger security for the cryptocurrency and broader participation among miners.

However, the same period has seen miners fall into their worst environment yet, with plunging profitability, rising operational costs, and the largest miner sell-off since late 2024. Together, these trends are pushing smaller miners into a difficult position.

Bitcoin Hash Rate Hits 1,000 EH/s As Miner Revenue Drops 40%

Bitcoin’s hash rate crossed the 1,000 EH/s (1 ZH/s) threshold in April 2025, highlighting the vast computing power now dedicated to securing the cryptocurrency network. At this level, it takes roughly 100,000 cycles for a quantum computer to break the Bitcoin blockchain.

Rising hash rate levels are usually attributed to increased participation in mining and technological advancements in creating more efficient hardware. However, at the start of April, miners faced a 40% year-over-year drop in revenue, according to data from Cloverpool.

After the April 2024 Bitcoin halving, block rewards were slashed from 6.25 to 3.125 BTC. This shift was supposed to encourage higher transaction fees to compensate for the reduced coin rewards.

However, persistently low fees and a high rate of empty blocks have left miners with fewer incentives and tighter margins, especially those focused on fee revenue.

Image by Cloverpool

Miner Sell-Offs Signify Cash Flow Issues Across Sector

The financial pressure has already led to significant Bitcoin liquidations. Data from TheMinerMag shows that in March 2025, public miners sold over 40% of their monthly BTC production—the highest sell-off rate since October 2024.

Firms like HIVE, Bitfarms (NASDAQ:Bitfarms), and Ionic Digital (NASDAQ:IONC) reportedly sold more Bitcoin than they mined to sustain operations. This is a dramatic shift from the post-halving accumulation strategies that miners usually adopt.

The continuous release of miner reserves into the market has applied downward pressure on prices, which dropped 2.3% in March after February’s 17.39% correction.

Moreover, as the largest institutional sellers, miners' actions can influence broader market sentiment, potentially compounding bearish trends.

Tariffs And Equipment Costs May Yet Squelch U.S. Miners

U.S.-based miners are also facing a unique set of challenges as trade tariffs on mining hardware take effect. Introduced by the Trump administration as part of broader trade policy shifts, these tariffs increase the cost of importing mining equipment from countries like China, where most manufacturers are based.

Analysts at BullifyX estimate that these tariffs will add up to $16,000 per unit, considering the typical price of new-generation ASICs (application-specific integrated circuits) used in Bitcoin mining.

With large-scale miners deploying hundreds or even thousands of ASICs in their facilities, these tariffs can significantly increase operational costs and delay hardware upgrades for many miners.

This rising cost structure, combined with declining mining rewards and network congestion, could push some smaller operations to shut down or consolidate. As competition intensifies, only the most efficient and well-capitalized miners may survive the current squeeze on Bitcoin mining profitability.