Overview
- Network computing power has fallen about 12% since November 11 to roughly 970 exahashes per second, the steepest decline since the post‑China ban period in October 2021, according to CryptoQuant.
- Daily mining revenue slid from about $45 million on January 22 to a yearly low of $28 million two days later before rebounding to roughly $34 million.
- Production from the largest publicly traded miners dropped from 77 bitcoin per day to 28, while output from other operators fell from 403 to 209.
- CryptoQuant’s Miner Profit and Loss Sustainability Index fell to 21, its lowest since November 2024, signaling widespread economic stress for operators.
- Difficulty has eased as machines went offline, and analysts say further reductions are possible if depressed hashrate persists.