Bitcoin miners are struggling to eke out a profit lately amid the asset’s falling price and external complications, including a winter storm that rocked a large chunk of the United States last weekend, impacting the production of top mining firms.
“The miner profit/loss sustainability index is at 21, the lowest since November 2024,” the firm wrote in its latest mining report, released Thursday.
In other words, with Bitcoin’s price falling sharply this week and its current mining difficulty level, miners are “extremely underpaid,” according to CryptoQuant. And that’s despite the fact that the network’s hash rate, or the measurement of all the network’s computer power, has dropped in five consecutive epochs and is at its lowest mark since September 2025.
The winter storm, which led to a further decrease in hash rate, also dropped daily mining revenues to a yearly low of $28 million, according to the data firm.
The production decrease coincided with a bleaker market for traditional equities and crypto assets, where shares in publicly traded miners like MARA Holdings, CleanSpark, and Riot Holdings all have fallen by double-digit percentages in the last five trading days.
Bitcoin has fared only slightly better, dropping 6% in the last seven days to change hands at $83,956—about 33% below its October all-time high of $126,080.
A representative for CryptoQuant did not immediately respond to Decrypt’s request for comment.
