Bitcoin Hashrate Dropped: Opportunity or Risk for the Market?

Yeliz Akmaca — Wed, 25 Jun 2025 13:00:53 +0000

Bitcoin’s daily average hashrate has declined to 684.48 EH/s, according to BitInfoCharts data. This is the lowest level recorded since mid-October last year. It marks a significant drop from the peak of 966 EH/s reached on June 20, 2025. However, this decline does not entirely threaten the security of the Bitcoin network, as it is still high compared to the 379.55 EH/s value in July 2023.

The primary reason for the hashrate drop is the increase in Bitcoin mining costs. Mining expenses rose by more than 34% in Q2 2025. Increases in electricity prices, hardware, and maintenance costs have forced many miners to suspend operations. Additionally, some mining farms joining energy-saving programs and the conflict in Iran have also impacted the hashrate.

Bitcoin hash rate – Tradingview

Twitter user Rob Waren commented, “The claim that hashrate dropped due to conflicts in Iran is funny, but weather conditions are more decisive in mining.”

Bitcoin Prices and Mining Difficulty

Despite the current hashrate situation, Bitcoin prices hover around $106,000, indicating continued investor confidence. Major Bitcoin ETFs like BlackRock, with $70 billion in assets under management, support Bitcoin’s perception as a safe haven. The Bitcoin market remained stable despite declines in U.S. stock markets.

On the other hand, mining difficulty will decrease by 9.37% on June 29, 2025. According to CoinWarz, difficulty will drop from 126.41 T to 114.40 T. This will increase mining profitability and may attract miners back to the network. However, if the hashrate does not recover, small risks to network security could arise. Currently, 684.48 EH/s provides sufficient protection against 51% attacks.

While the hashrate drop serves to eliminate inefficient miners in the long term, Bitcoin’s stable price near $106,000 and the growth of ETFs support positive market expectations. However, if the hashrate falls further and difficulty adjustment is delayed, selling pressure from miners could negatively impact prices. Furthermore, geopolitical tensions and Fed’s interest rate policies remain key macroeconomic factors influencing the crypto market.

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Bitdeer Secures $60M to Expand ASIC Production!

Yigit Taha OZTURK — Tue, 22 Apr 2025 16:00:17 +0000

Bitcoin mining firm Bitdeer has secured a $60 million loan to scale up its ASIC production and self-mining operations, according to its latest annual report. The funding comes through a loan agreement with Matrixport, a crypto finance company founded by Bitdeer’s chairman Jihan Wu.

The loan facility offers up to $200 million, secured by Sealminer equipment, with a floating interest rate of 9% plus market benchmarks. As of April 21, Bitdeer has drawn $43 million from this line.

This follows a $17 million unsecured loan in January and a total of $572.5 million raised via convertible notes in 2024. The company also raised $119 million in equity through share issuance this year.

Bitdeer Buys 101 MW Gas Power Plant in Canada

In February 2025, Bitdeer acquired a fully licensed 101 MW gas-fired power plant near Fox Creek, Alberta, for $21.7 million in cash. The site has the potential to scale to 1 GW and includes a 99 MW grid connection.

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The plant will be developed with an EPC partner and is expected to be operational by Q4 2026.

In March, Bitdeer also purchased 40 MW of liquid-cooled containers from Saiheat, supporting its shift towards expanding self-mining due to declining demand for its mining equipment.

“Our plan going forward is to prioritize our own self-mining,” said Jeff LaBerge, Bitdeer’s head of capital markets.

Bitcoin Hashrate Hits 1 Sextillion H/s While Miner Revenues Fall

Bitdeer’s aggressive expansion comes as Bitcoin’s network hashrate surged to 1 sextillion hashes per second in early April. While this showcases the growing computational power, it reduces individual miner profitability due to increased competition.

Miners are further squeezed by declining transaction fees, currently averaging just $1, down from $16+ a year ago. As a result, public miners sold over 40% of their BTC output in March, with firms like Hive, Bitfarms, and Ionic Digital reportedly selling more than 100% of their monthly production.