Bitcoin Mining Difficulty Hits Record High, Squeezing Miner Profits

Bitcoin’s network difficulty has climbed to an all-time high above 136 trillion, adding fresh pressure on miners already facing shrinking revenues. The latest adjustment, recorded at block height 913,248, marked a 4% increase from 129.6 trillion and extended five consecutive rises since June, according to Mempool data.

This difficulty mechanism, recalibrated every 2,016 blocks (about every two weeks), ensures Bitcoin’s block production remains near the 10-minute target. A rising difficulty level signals more computing power competing on the network, while declines reflect miner exits.

But the new record comes at a time when mining economics are deteriorating. Data from Hashrate Index shows Bitcoin’s hashprice—a key metric for revenue per unit of computing power—has dropped to around $51, the lowest since June. August’s average hashprice of $56.44 was down nearly 5% from July, underscoring intensifying margin pressure.

Transaction fees have provided little relief. Hashrate Index reported miners earned just 0.025 BTC per block in August, down nearly 20% from July and the weakest result since 2011. In dollar terms, daily fee revenue averaged $2,904, the lowest since 2013.

With record-high difficulty and weakening income streams, Bitcoin miners face increasingly tight margins. Unless Bitcoin’s price rebounds significantly or on-chain activity boosts transaction fees, the industry may see heightened financial strain through the remainder of 2025.