According to a February 2025 report, Bitcoin Miners face new financial pressures as trading fees decrease and the operating costs of hashprisdrop pushes increase.
Bitcoin’s hashrate rose 3.8% to 810 EH/s in February, indicating a slower growth in mining competition. However, Hashpris (the miners earn per unit of computing power) slipped to $45/s, wiping away profits from the US election-driven price surge. At this level, inefficient miners feel the burden.
Transaction fees account for just 1.3% of total block rewards in February, marking the lowest share since the last bare market bottom in 2022. March is even lower, at 1.12% so far.
These factors have put extra pressure on mining operations that rely on hosting contracts and asset lighting strategies, as well as increasing competition with AI data centers.
Mara remains an industry leader at 44 EH/s after a 6% increase in hashrates, with CleanSpark increasing by 12% to 39 EH/s. Meanwhile, total Bitcoin holdings among miners surpassed 100,000 BTC for the first time, despite some companies such as Hive Digital and Cipher Mining selling production and selling capital expansion.
Mining stocks were a hit, with the market capitalization of 15 major companies down from $36 billion in January to $22 billion in March. Cipher, Canaan, Hut 8, Hive and Bitdeer all saw losses above 40%.
With network growth slowing and energy costs rising, miners may need Bitcoin price gatherings to avoid further financial burdens.
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