BTC mining enters the Zetahash era: the challenges faced by Bitcoin miners and their future prospects. As the mining difficulty increases and new technological advancements emerge, miners must adapt to stay competitive. This article explores the current landscape of Bitcoin mining, the impact of Zetahash-level hashing power, and what lies ahead for the industry.
With the rise of Zetahash-level mining power, the competition among miners intensifies. Innovations in hardware efficiency and energy consumption are crucial for maintaining profitability. Additionally, regulatory changes and environmental concerns are shaping the future of mining operations worldwide.
### Key Challenges for Miners
- Increasing operational costs
- Need for advanced hardware
- Environmental impact considerations
### Future Outlook
- Adoption of renewable energy sources
- Development of more efficient mining algorithms
- Potential for decentralization despite the high entry barriers
As the industry evolves, miners must stay informed about technological trends and regulatory developments to navigate the complexities of the Zetahash era successfully.

The Bitcoin network quietly crossed a historic threshold at the end of 2025 — the seven-day moving average of total network hash rate continuously surpassed 1 Zetahash/s (ZH/s). This marks Bitcoin mining officially entering the Zetahash era.

This number signifies over 1 trillion trillion hash calculations per second, reaching a new height in network security. However, behind this milestone lies a stark reality: miners’ profit margins are being squeezed to unprecedented levels, with revenue per unit of hash rate dropping to historic lows.

Industry Turning Point: From Exahash to Zetahash Hash Rate Leap

A few years ago, 1 Zetahash was considered an unattainable goal. Today, it not only became a reality but also a symbol of the industrialization of Bitcoin mining. 1 Zetahash equals 1,000 Exahash, and this growth in hash rate is not a coincidental peak but a reflection of structural industry transformation.

Behind this leap are continuous hardware upgrades by miners, global data center deployments, and large-scale capital investments. Traditional individual miners and small mining farms are gradually exiting the stage, replaced by industrial-scale mining companies with professional operations and access to cheap energy.

This shift has transformed Bitcoin mining from a “hobbyist’s pursuit” into a truly energy-intensive infrastructure industry. However, scaling up has not brought proportional profit growth; instead, it has posed unprecedented challenges to the industry’s profit models.

Profitability Dilemma: When Hash Rate Growth Runs Counter to Revenue Growth

As total network hash rate surges, revenue per unit of hash rate shows the opposite trend. According to industry data, in November 2025, a key indicator representing miners’ earnings — “hash price” (i.e., daily income per unit of hash rate) — fell to a historic low, approximately $35 per PH per day.

This figure is well below the historical average and remains weak through the end of the year. Miner income has entered one of the tightest periods on record.

The core reasons for this phenomenon are twofold: first, Bitcoin’s price has failed to keep pace with hash rate growth; second, after the 2024 halving, block subsidies decreased. Since the halving in April 2024, rewards per block dropped from 6.25 BTC to 3.125 BTC, while transaction fees have not compensated for this loss.

For most of 2025, transaction fees accounted for less than 1% of total block rewards, a stark contrast to early Bitcoin mining.

Survival Threshold: Shutdown Price Becomes Miners’ Lifeline

Under current mining difficulty, the shutdown price has become a critical indicator for miners’ survival. Taking the widely used Antminer S21 series as an example, with electricity costs at $0.08 per kWh, the breakeven point is roughly between $69,000 and $74,000 per Bitcoin.

This means that when Bitcoin’s price falls below $69,000, mining farms using such equipment will face unprofitable operations.

As of February 5, 2026, the Bitcoin price on the Gate platform was reported at $69,300, right in this sensitive zone. This price level puts many miners on the brink of profitability, potentially forced to shut down due to small price fluctuations.

More efficient miners can lower the shutdown price, but the high hardware costs create new capital barriers, further intensifying the Matthew Effect — the strong get stronger, the weak get eliminated.

Data Behind the Scene: The End of Personal Mining and the Dilemma of Hash Rate Democratization

For ordinary miners, participating in Bitcoin mining has become increasingly difficult. The current network difficulty is about 146.4 T (trillion), with a hash rate reaching 1.1 ZH/s.

A mainstream ASIC miner, such as the Antminer S21 (200 TH/s), contributes only a tiny fraction of the total network hash rate.

Calculations show that at current difficulty levels, mining one Bitcoin with a standard miner (assumed to be 100 TH/s) would take about 5,778 days, nearly 16 years. Even with high-efficiency devices like the Antminer S21 XP (480 TH/s), it still takes several years.

This makes individual mining nearly unprofitable, starkly contrasting the ideal of network decentralization with the reality of increasing hash rate centralization. The industry’s trend toward industrialization is irreversible, and the hash rate race in the Zetahash era has become a capital-intensive game.

Market Chain Reaction: How Miner Behavior Affects Bitcoin Price

Miners’ profit pressures not only impact their survival but also trigger chain reactions in the Bitcoin market. When Bitcoin’s price remains below key shutdown levels, weaker miners may be forced to sell reserves to sustain operations, adding selling pressure that further depresses the price.

Meanwhile, miner shutdowns reduce total network hash rate, prompting the network to automatically lower mining difficulty, improving remaining miners’ profitability, creating a self-regulating mechanism.

However, this adjustment process often amplifies market volatility. Especially after halving, with reduced block rewards and sluggish transaction fees, miners become highly sensitive to Bitcoin’s price movements.

As of February 5, 2026, data shows the market is at a delicate equilibrium. Any breakout in either direction could trigger collective miner behavior adjustments, magnifying market fluctuations.

Industry Evolution: Seeking New Survival Strategies in the Zetahash Era

Faced with profit pressures, the Bitcoin mining industry is exploring new survival strategies. Optimizing energy costs has become a core competitive advantage, with miners migrating to regions rich in renewable energy and low electricity prices.

Additionally, hardware iteration accelerates, with energy efficiency becoming the primary criterion for equipment selection. The latest generation of miners boasts an efficiency ratio below 20 J/TH, far better than early devices exceeding 100 J/TH.

Meanwhile, diversified revenue models are emerging. Some miners are exploring using excess heat for greenhouse cultivation, district heating, and other applications; others participate in grid demand response, temporarily shutting down during peak electricity usage to receive compensation.

For ordinary investors, direct participation in mining has become prohibitively high. Mainstream trading platforms like Gate offer more convenient ways to participate. Investors can trade Bitcoin and other cryptocurrencies directly on Gate, avoiding hardware investments, high electricity costs, and operational complexities, while effectively managing price volatility risks.

Future Outlook: The New Normal of Bitcoin Mining in the Zetahash Era

Entering the Zetahash era signifies industry maturity but also presents new challenges. With the ongoing effects of the 2024 halving and the next halving expected around 2028, miners will need to fundamentally adjust their profit models.

Future trends may include: continued concentration of hash rate among large enterprises with capital and energy advantages; deeper integration of mining with energy systems, becoming flexible loads for grid regulation; and an increasing share of transaction fees, especially as block rewards further decline.

For the entire Bitcoin network, Zetahash-level hash rate provides unprecedented security, making attacks extremely costly. But this security comes at the expense of miners’ profit pressures.

Balancing the ideals of network decentralization with industry economic sustainability will be a core challenge for Bitcoin in the Zetahash era.

Future Outlook

The Bitcoin network hash rate surpassing 1 Zetahash/s marks a new era in mining. Meanwhile, mining difficulty has risen to 146.4 T, and revenue per unit of hash rate has fallen to historic lows, severely constraining miners’ profit margins.

As Bitcoin’s price hovers around $69,000 on February 5, 2026, many farms using S21 series miners are already struggling on the edge of profitability. Since 2023, Bitcoin mempool has been cleared multiple times in 2025 for the first time, with transaction fees nearly negligible.

In the future, miners with access to the lowest-cost energy, operating the largest farms, and using the most efficient hardware will dominate this brutal hash rate competition.