Bitcoin Mining Enters the Zetahash Era as Profitability Tightens
Reporting by Beincrypto says Bitcoin mining crossed 1 zetahash per second in late 2025, a structural shift as the network sustained over 1 ZH/s on a seven-day average and mining became more industrial, according to a GoMining report. While hashrate reached record highs, revenue per unit of compute fell to historic lows.
Transaction fees offered little relief after the halving, accounting for less than 1% of total block rewards for most of 2025, and the mempool cleared multiple times, leaving miners increasingly dependent on Bitcoin’s price and the block subsidy. Hashprice dropped to an all-time low near $35 per PH per day in November and remained weak into year-end, finishing the quarter near $38.
With margins compressed, S21-series miners approach breakeven between $69,000 and $74,000 per BTC at electricity costs around $0.08 per kWh, putting mid-tier operations under immediate pressure while more efficient machines remain viable at lower prices.