Odaily Planet Daily reports that, according to Checkonchain’s cost model based on difficulty, the average production cost for Bitcoin miners is approximately $88,000, while the current market price is around $69,200, resulting in an average loss of about 21%. Bitcoin previously dropped from $126,000 to below $70,000; recently, oil prices have risen above $100, further increasing electricity costs. The actual closure of the Strait of Hormuz has tightened global oil and gas supply expectations, exacerbating cost pressures on miners.
On the network level, mining difficulty decreased by 7.76% to 133.79 trillion in the latest adjustment, marking one of the largest drops this year and representing a roughly 10% decline from the beginning-of-year level. Hashrate has fluctuated between approximately 900 and 950 TH/s, below the 1 EH/s milestone reached in 2025, with the average block time extending to about 12 minutes and 36 seconds. Hash price remains around $33 per PH/s, near the break-even point for most mining rigs.
Currently, approximately 43% of Bitcoin’s supply is underwater. When mining revenues fail to cover operational costs, miners typically sell Bitcoin to cover expenses, increasing market selling pressure. Several publicly traded mining companies, including Marathon Digital and Cipher Mining, are redirecting resources toward AI and high-performance computing businesses; Bitdeer has reduced its Bitcoin holdings to zero, and Core Scientific plans to sell a significant portion of its inventory to fund AI-related infrastructure development. The next difficulty adjustment is expected in early April, and if current conditions persist, it may result in a further reduction.