Bitcoin mining crossed a historic threshold in late 2025. According to a recent report from GoMining, the network entered the zetahash era, surpassing 1 zetahash per second of computing power.
But while hashrate surged to record levels, miner profitability moved in the opposite direction. The result is a mining industry that is larger, more industrialized — and more exposed to price risk than at any point this cycle.
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