Bitcoin Mining Weekly Report: Hash Rate Decline and Regional Reshaping

Source: CritpoTendencia Original Title: The 5 Most Important Bitcoin Mining News of the Week Original Link:

Bitcoin Mining Market Cycle Review

The crypto market completed a new cycle this week, with almost all sectors experiencing significant volatility, reinforcing the optimistic outlook for 2026. In the Bitcoin mining sector, activity was equally intense, releasing multiple key signals. This report summarizes the most noteworthy news in this ecosystem.

Digital mining is one of the foundational pillars of the crypto market. Its influence directly impacts price dynamics, especially through its ability to generate liquidity. Simply put, the trading volume of Bitcoin sold by miners has a decisive effect on the price behavior of leading market assets.

However, the impact of mining extends beyond the economic level. The industry is crucial for the operational stability of the Bitcoin blockchain—miners provide the computational power that enables transaction blocks to be processed, maintaining network operation. At the same time, this process significantly reduces the likelihood of attacks, strengthening system security.

Top 5 Mining News This Week

• Bitcoin network hash rate continues to decline
• Ninjas in Pyjamas mine $14 million worth of Bitcoin
• U.S. dominance in BTC mining continues to decline
• Bitdeer surpasses MARA to become the largest miner (by hash rate managed)
• UAE joins government-backed mining competition

Bitcoin Network Hash Rate Continues to Decline

In early 2026, Bitcoin miners are operating in a fragile and constrained environment. The network hash rate cooled after reaching a high at the end of 2025, with unstable recovery and fluctuations around approximately 1000 EH/s.

Network difficulty adjusts roughly every two weeks, acting as a delay mechanism; even if prices rise, profitability can suddenly be compressed.

Whether to keep equipment running or shut down depends on Bitcoin prices and hash price (income per unit of hash rate), currently around $39-40/PH/s/day. Many operators are close to breakeven. Ultimately, profitability depends on the comparison between revenue and energy costs, which have become a major industry constraint.

This creates a whip effect in the network: a decline in hash price leads to a reduction in hash rate, but difficulty adjustments lag, forcing miners to endure prolonged tight profit margins.

Less efficient mining pools become flexible loads for the network, especially vulnerable to electricity price fluctuations or energy regulation policies. This is compounded by increased competition from data centers and other energy-intensive infrastructure.

Ninjas in Pyjamas Mine $14 Million Worth of Bitcoin

NIP Group (the parent company of esports team Ninjas in Pyjamas) announced last week that during the first three months from September to November, they produced approximately 151.4 Bitcoins, worth about $14.5 million. This expansion, planned since July, has propelled the company into the top 20 publicly listed miners in the U.S.

The company rapidly expanded capacity through equity financing for equipment procurement, now reaching 9.66 EH/s, with a short-term target of 11.3 EH/s, and a monthly production goal of 140 Bitcoins. Their strategy prioritizes Bitcoin accumulation but considers partial sales under favorable market conditions to fund operations.

This move adds a second growth engine to their core digital entertainment business. The company is positioned at the intersection of video games, digital assets, and computing infrastructure, with an eye toward future opportunities related to artificial intelligence. However, its Nasdaq-listed stock has fallen nearly 50% over the past six months.

U.S. Dominance in BTC Mining Continues to Decline

According to the latest report, North America’s share in Bitcoin mining continues to shrink. In December, major U.S. mining pools (such as Foundry USA) accounted for only 35% of mined blocks, down from over 40% at the beginning of 2025. This decline in dominance occurs amid the Trump administration’s claims to centralize digital mining domestically.

This downturn stems from two core factors. First, mining revenues have plummeted, with December earnings per EH/s down 32%, prompting many companies to shift resources toward AI infrastructure, which has higher demand and more lucrative margins.

Second, countries like China (especially Xinjiang) have significantly increased energy capacity, enabling more aggressive competition for blocks.

As a result, the global hash rate landscape is undergoing a comprehensive reshuffle. Some U.S. companies (such as Hut 8) are repositioning as AI energy infrastructure providers, while participants in jurisdictions with abundant, low-cost energy are gaining more attention. Even equipment manufacturers like Bitmain are mining directly from their own inventory due to decreased demand for new devices.

Bitdeer Surpasses MARA to Become the Largest Miner

Bitdeer Technologies has solidified its position as the largest Bitcoin mining enterprise (by hash rate managed), surpassing MARA Holdings. As of the end of December, Bitdeer reported a total managed hash rate of 71 EH/s, with 55.2 EH/s from self-operated mining; MARA reported 61.7 EH/s.

This progress is partly due to Bitdeer’s aggressive expansion with its own SEALMINER chips, known for high energy efficiency at about 6-7 J/TH. However, the industry is undergoing a broad transformation toward artificial intelligence.

Like other competitors, Bitdeer is selling most of its mined Bitcoin to finance the transition to high-performance computing infrastructure.

In contrast, MARA pursues a Bitcoin accumulation strategy, holding over 55,000 BTC. While both companies are exploring diversification into AI, their business models differ: Bitdeer prioritizes capacity expansion, while MARA seeks to balance operational growth with asset holdings.

UAE Joins Government-Backed Mining Competition

The UAE has joined the ranks of nations sponsoring Bitcoin mining operations at the national level. According to multiple reports, the government leverages its abundant natural gas supplies for these activities, managed through Citadel Mining. It is estimated that these operations have accumulated between 6,300 and 6,450 Bitcoins, worth approximately $700 million.

This strategy positions digital mining as a key national infrastructure, on par with data centers or telecommunications networks. It reinforces the country’s favorable stance toward digital assets, despite coexistence with local restrictions, such as Abu Dhabi’s recent ban on mining on agricultural land to protect energy resources.

Through this move, the UAE aligns with countries like El Salvador, Bhutan, Iran, and Russia, which also participate in national mining, mainly utilizing surplus hydro, geothermal, or nuclear energy. The shared goal is to generate revenue, optimize energy resources, and strengthen their strategic position in the global digital economy.