Bitcoin’s network hashrate is stabilizing after a sharp decline that forced miners to scale back operations amid falling profitability, soaring electricity costs, and growing competition from AI infrastructure. According to Zach Pandl, the hashrate peaked above 1.1 zettahashes per second (ZH/s) in late 2025 before plunging nearly 27% from approximately 1,160 exahashes per second (EH/s) in October 2025 to 850 EH/s by February 2026. The network has since recovered toward the psychologically significant 1 ZH/s threshold, reaching 1.075 ZH/s on October 13 against 1.003 ZH/s the previous day. In June, hashprice, measuring miner revenue per unit of computing power, dropped to a record low of $27.70 per petahash per second per day, rendering operations for many miners unprofitable.
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