Record-Breaking Hashprice Lows Spark Mining Industry Pivot

Bitcoin mining profitability has hit record lows, prompting some operators to explore alternative uses for their facilities. According to BitPlanet Research Lab's report 'Record-Low Hashprice Reshapes 2026 Mining Economics,' all three lowest monthly average hashprice readings in history have occurred this year.

In June, the average hashprice was $30.37, followed by July at $31.21 and March at $31.27. This is roughly 20% below last year's monthly average floor of $37.89.

Hashprice measures the expected mining revenue generated per day by 1 PH/s of computing power and fluctuates with Bitcoin prices, mining difficulty, and transaction fees. It is a key indicator for gauging miner profitability.

Equipment efficiency and power rates are drawing a dividing line in the industry. While operators with access to cheap electricity and high-efficiency equipment can continue to mine profitably, those with older hardware or higher power costs are exploring conversion of their facilities into artificial intelligence (AI) and high-performance computing (HPC) data centers.

According to BitPlanet's calculations, legacy-generation equipment with an efficiency of 25-38 J/TH has a break-even power rate of 3.9 cents per kWh. Even with cheap power at 4 cents, cash margins excluding electricity costs effectively vanish.