Monthly Bitcoin production drops as miners fight rising hashrate
Most Bitcoin miners saw declining production in January as network difficulty soared. Riot Platforms bucked the trend with increased output.
Bitcoin miners have reported a decline in monthly production as mining difficulty — the computational power required to verify BTC transactions and mine new blocks — continued to rise.
Major Bitcoin mining firms such as Hut 8, Marathon (Mara), and Bitfarms saw a drop in Bitcoin production in January compared to December 2024. However, Riot Platforms stood out by recording a 2.1% increase in Bitcoin production, defying the broader trend.
As Bitcoin network difficulty reached near its all-time high of 110 trillion (T) throughout January, miners faced increased challenges in producing new blocks.
Since the last halving event on April 20, 2024, mining difficulty has risen by 27.8%. In response, Bitcoin miners have been upgrading their equipment and optimizing business operations to maintain profitability.
Compared to December 2024, Hut 8 saw a 27% drop in its monthly Bitcoin production, mining just 65 BTC in January. Likewise, Marathon (Mara) and Bitfarms experienced declines of 12.5% and 4.7% in production, respectively.
Riot maintains Bitcoin production with new facility
Riot Platforms has maintained its Bitcoin production by commissioning a new mining facility in Texas in January. This facility is part of a larger 1-gigawatt development aimed at scaling up their Bitcoin mining operations. In an announcement, CEO Jason Les stated:
“The Corsicana Facility reached a deployed hash rate of 15.7 EH/s towards the end of the month. We also continue to see strong results from newly deployed miners and immersion systems reflected in the significant improvement in our operational hash rate and utilization rates.”
Asher Genoot, CEO of Hut 8, announced that the company’s infrastructure upgrades are nearing completion and are expected to enhance its overall mining capacity “in the coming weeks.”
On the flip side, the Bitcoin mining hashrate is projected to decrease due to lower mining difficulty and fewer preorders for mining hardware.
In the last week of January, mining difficulty dropped to 108 trillion (T), while the hashrate remained steady at approximately 832 exahashes per second (EH/s).
