The profitability of Bitcoin mining has hit a historical low. The key profitability indicator for mining the first cryptocurrency - the Bitcoin Hashprice Index - has fallen below $34.
The Bitcoin Hashprice Index, developed by the American mining company Luxor, calculates the daily income of miners per unit of hash rate, which is usually expressed in US dollars per petahash per second per day ($/PH/s/day). This is an average value that does not take into account various costs from region to region, but it still serves as an important benchmark.
As of 10:30 Moscow time on February 2, the index indicates that a bitcoin miner spending 1 petahash per second (PH/s) of computing power per day can earn $33.34. The previous historical minimum of $34.21 was recorded in November 2025.
The decline in mining profitability occurred against the backdrop of the bitcoin price collapsing to a minimum not seen in nearly ten months. According to Coinmarketcap, the price of BTC dropped to $74,500 for the first time since April 7 of last year. By 11:00 Moscow time, the price had recovered to $76,800.
Bitcoin miner activity, determined by the total computing power in the network (hashrate), fell to a six-month low last week amid the shutdown of some equipment by miners in the USA. Since then, the indicator has not recovered.
The average weekly hashrate, which exceeded 1000 EH/s for the last four months of 2025, has dropped to 851 EH/s. Due to this decline, it is predicted that mining difficulty will decrease by 14.4% in five days—this will be the sixth consecutive decrease.