The March financial results show a $20 million decline in Bitcoin miner revenue compared to February. At the same time, the hash price — the theoretical daily profit of 1 petahash per second (PH/s) — has fallen 3.93% from the benchmark set in early March.

Hashprice's 3.93% drop coincides with a record of 862 EH/s

Fresh data collected on April 1, 2025, via hashrateindex.com shows the hash rate has dropped from $48.84 per PH/s on March 1 to the current $46.92. This figure represents the hypothetical daily profit per 1 PH/s in the mining sector. Despite the month-long decline, the hash rate has fluctuated significantly, reaching a high of $54.38 in early March before falling to a low of $44.05 on March 10.

While revenue per PH/s has fallen 3.93% since the start of March, it has increased 6.52% since the March 10 low. Analysis shows that Bitcoin miners lost $20 million in March compared to February, according to data from theblock.co. In February, miners earned $1.24 billion, of which $1.22 billion came from the subsidy. Data for March shows an accumulated $1.22 billion, of which $1.21 billion came from the block subsidy.

Onchain fees accounted for $16.45 million in total in February, while March brought in $15.11 million from this source. Moreover, Bitcoin’s hashrate reached an unprecedented level in March, jumping to 862 exahashes per second (EH/s). Block intervals have been decreasing faster than the 10-minute standard, and an expected difficulty adjustment is scheduled for April 5, 2025.

Meanwhile, late March and early April saw low onchain transaction throughput, with daytime blocks showing reduced throughput. This lull reduced onchain fees to as low as 1-4 satoshis per virtual byte (sat/vB), resulting in lower profit margins for mining operations.

Source: cryptonews.net