Bitcoin's Hashrate Continues to Fall as Price Spikes Fail to Incentivize Miners to Resume Operations

MEVictim · 2026-01-17T11:25:17+00:00

![image](https://img-cdn.gateio.im/social/moments-191585a39a-13b508ebab-8b7abd-e2c905)Source: CryptoNewsNetOriginal Title: Bitcoin's hashrate continues to fall as the price spike doesn't convince miners to turn machines back onOriginal Link: Bitcoin miners entered early 2026 in a familiar but increasingly unforgiving setup: network hashrate is slipping from late-2025 highs, difficulty is adjusting on a delay, and power costs remain the hard constraint that decides which fleets stay online and which go dark.The result is a market that can look resilient on the surface, especially when Bitcoin bounces, but remains fragile at the margin, where a single difficulty uptick or a regional power spike can turn "operating" into "curtailing" quickly.## Hashrate is cooling after a late-2025 highBitcoin's network hashrate has cooled from its late-2025 peak pace and has not consistently returned to that level even during periods of spot strength.![](https://img-cdn.gateio.im/social/moments-73bba7e0d1-8736057222-8b7abd-e2c905)JPMorgan estimated Bitcoin's monthly average network hashrate rose 5% in October to **1,082 EH/s**, a record monthly average **in its series**. November followed with an estimated **1,074 EH/s**, a modest month-over-month pullback rather than a straight continuation.Daily estimates since late December have been choppy, with prints swinging above and below the **1,000 EH/s** threshold, consistent with miners cycling uptime instead of expanding smoothly.YCharts' network series sourced from Blockchain.com showed both sub-1,000 EH/s readings and rebounds above that level around the mid-January rebound.| Metric | Point | Value | What it anchors ||--------|-------|-------|---------------|| Monthly-average hashrate | Oct. 2025 | 1,082 EH/s | Record monthly average (JPMorgan estimate) || Monthly-average hashrate | Nov. 2025 | 1,074 EH/s | Mild pullback after the record (JPMorgan estimate) || 7-day hashrate average | Jan. 2026 | 1,024 EH/s | Near-term cooling after late-2025 stress |

MEVictim

2026-01-17 11:25:17

Source: CryptoNewsNet Original Title: Bitcoin’s hashrate continues to fall as the price spike doesn’t convince miners to turn machines back on Original Link: Bitcoin miners entered early 2026 in a familiar but increasingly unforgiving setup: network hashrate is slipping from late-2025 highs, difficulty is adjusting on a delay, and power costs remain the hard constraint that decides which fleets stay online and which go dark.

The result is a market that can look resilient on the surface, especially when Bitcoin bounces, but remains fragile at the margin, where a single difficulty uptick or a regional power spike can turn “operating” into “curtailing” quickly.

Hashrate is cooling after a late-2025 high

Bitcoin’s network hashrate has cooled from its late-2025 peak pace and has not consistently returned to that level even during periods of spot strength.

JPMorgan estimated Bitcoin’s monthly average network hashrate rose 5% in October to 1,082 EH/s, a record monthly average in its series. November followed with an estimated 1,074 EH/s, a modest month-over-month pullback rather than a straight continuation.

Daily estimates since late December have been choppy, with prints swinging above and below the 1,000 EH/s threshold, consistent with miners cycling uptime instead of expanding smoothly.

YCharts’ network series sourced from Blockchain.com showed both sub-1,000 EH/s readings and rebounds above that level around the mid-January rebound.

Metric	Point	Value	What it anchors
Monthly-average hashrate	Oct. 2025	1,082 EH/s	Record monthly average (JPMorgan estimate)
Monthly-average hashrate	Nov. 2025	1,074 EH/s	Mild pullback after the record (JPMorgan estimate)
7-day hashrate average	Jan. 2026	1,024 EH/s	Near-term cooling after late-2025 stress

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