Bitcoin's network hashrate fell below one zettahash per second on Saturday for the first time since mid-September 2025, with current measurements indicating 988 exahash per second based on seven-day moving averages.
The decline ends a four-month period of computing power sustained above the symbolic threshold of 1 ZH/s, representing an erosion of about 15% compared to the peak on October 19 of 1,162 EH/s, according to Hashrate Index data.
Mining difficulty simultaneously retreated to 146.47 trillion after a downward adjustment of 1.2% on January 8, marking the first network recalibration in 2026 after reaching a historical high of 155.97 trillion in late October.
Change in Mining Conditions
The hashprice, which measures revenue per petahash of computing power, rebounded by 19.3% from the low of $34.55 on November 21 to current levels near $41.22, although profitability remains down 32% year-on-year as miners adapt to the post-halving economy.
The network has experienced four difficulty decreases since the record in October, with a cumulative reduction of 9.5 trillion providing modest relief to operators facing compressed margins after the block subsidy reduction in April 2024, from 6.25 to 3.125 BTC.
Transaction fees contributed to only 0.72% of total block rewards over the last 24 hours, providing minimal supplemental income while the network primarily maintains its security through newly created bitcoins.
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Adjustment Outlook
Block production is currently averaging 10 minutes and 34 seconds, against the target of 10 minutes set by the protocol, positioning the next scheduled difficulty adjustment on January 22 for an estimated decrease of 5.45% based on current block discovery rates.
JPMorgan analysts noted that the average monthly hashrate of 1,045 EH/s in December represented a 3% decrease from the previous month, signaling a cooling of competition among miners as some operators reduced their activity in the face of profitability pressures and rising energy costs.
The decline in hashrate coincides with broader difficulties in the mining sector, as AI data centers increasingly compete for the same power infrastructure that Bitcoin miners historically relied on for access to competitively priced energy, tightening margins across the industry.
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