In early April, the Bitcoin network reached a significant technological milestone: its daily hashrate surpassed 1 sextillion hashes per second, according to BitInfoCharts. 

This record-breaking figure highlights the immense computing power securing the network.

However, behind this achievement lie economic challenges for miners. Data from blockchain analytics platform Newhedge shows that Bitcoin mining revenue in March dropped by nearly 50% compared to March 2024, totaling approximately $1.2 billion.

Miners earn income from two primary sources: block rewards and transaction fees. Following the April halving, which reduced the reward to 3.125 BTC per block, transaction fees have become increasingly important. But with fees remaining low and many blocks being partially empty, miner profit margins are shrinking.

According to TheMinerMag, publicly traded mining firms sold over 40% of their Bitcoin production in March — the highest level since October 2024. The report notes that this surge in sales suggests miners may be responding to tightening profit margins and growing uncertainty surrounding global trade tensions.

Some companies went even further. HIVE, Bitfarms, and Ionic Digital reportedly sold more than 100% of their March production, indicating the use of reserves or forward-selling strategies. Others, like CleanSpark, appear to be adjusting their approach, potentially reflecting a more cautious outlook amid ongoing market shifts.

💸💲🧠 Get up to 5020 USDT as a welcome bonus and an additional 1025 USDT by using this referral on  Bybit