Bitcoin miners now generate less than 0.7% of their revenue from transaction fees, a decade-low level according to Glassnode data. The network hash rate has dropped 33% from its October 2025 peak, falling from 1.3 zettahashes per second to 861 exahashes per second. The average cost to produce one Bitcoin is estimated at 78,254 dollars, approximately 23% above the current spot price. Several miners, including CleanSpark, are pivoting to artificial intelligence to survive the crisis, while Keel Infrastructure shut down all its US mining operations after a 50% revenue decline in the second quarter.
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