Bitcoin (BTC) hashprice hits record low…difficulty seen dropping more than 13%

Bitcoin (BTC) hashprice, a measure of mining profitability, has fallen to an all-time low, raising the prospect of a sharp decline in the next difficulty adjustment.

On the 5th (local time), Bloomberg, citing data from crypto mining services firm Luxor Technologies, reported that Bitcoin hashprice came in at about $0.03 per terahash. That is the lowest level in Bitcoin mining history.

According to the report, if the current trend continues, Bitcoin network difficulty is expected to fall by more than 13% in the next adjustment. Difficulty is adjusted roughly every two weeks and is automatically recalibrated in response to changes in mining conditions.

Some miners are shifting data centers to other uses, such as artificial intelligence (AI) computing, to offset the hit to profitability. Bloomberg noted, however, that most mining companies' revenue still comes from Bitcoin mining.

Higher power costs and weather-related blackouts were also cited as factors squeezing miners' profit margins. In particular, North American miners are facing mounting operational strain due to grid instability and rising costs.

Bloomberg said, "A decline in hashprice could, in the near term, trigger shutdowns or restructuring at some miners," adding that attention is focused on whether conditions may ease to some extent after the difficulty adjustment.