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BTC Bitcoin miners 'income reached US$1.12 billion in September, the best performance this year.
In September, Bitcoin miners' income was approximately US$1.12 billion, setting a record since January this year. The rise in bitcoin prices has driven revenue growth, while network difficulty has remained almost unchanged in the last adjustment, dropping only slightly by 0.03% to 132.72 trillion yuan. After several difficult months, the operating pressure on the mine has finally eased.
Core Data Summary
- Monthly Revenue: Miners 'revenue reached approximately US$1.12 billion in September.
- Network difficulty: dropped only 0.03% to 132.72 trillion yuan.
- Hashprice: remains at about US$40 per PH/s.
Best monthly return year-to-date
For the mining industry, September ended much better than it started. Revenue for the month reached approximately $1.12 billion, exceeding the $1.08 billion in May. This year, only January performed better, when revenue was about $1.15 billion.
Signs of this recovery have been apparent as early as early September. At that time, although the Internet's power was still below 1ZH/s, Bitcoin's "Hashprice" soared by 22.24% in a month. This trend continued throughout September. The power price, a measure of the daily value generated by computing power per beat of petahash, reached a 30-day high of $41.51 and a low of $37.45. For most of September, the indicator hovered around $40 per PH/s. For miners, the difference of a few dollars in this indicator becomes crucial when multiplied by hundreds of beats of hash power and thousands of machines.
Bitcoin also benefited from better market conditions in August and September. The increase in prices directly increases the dollar value of the rewards awarded to miners. The results are visually reflected on the books: monthly revenue reached US$1.12 billion. For an industry that has been struggling to cut costs for most of the year, September brought a breath.
Mining difficulty has remained almost unchanged
The recent Bitcoin difficulty adjustment has brought very little change. In the 969,696th block, the difficulty only dropped by 0.03%, reaching 132.72 trillion yuan. This is the smallest volatility recorded since the beginning of the year.
这与6月的情况形成鲜明对比。当时，由于算力显著收缩，比特币挖矿难度在一次调整中骤降10.09%。自1月以来，比特币已进行了19次难度调整。其中8次增加了难度，11次降低了难度。这8次增加代表累计上升33.34%，而11次降低则达到45.30%。总体而言，截至2026年，难度仍显示净下降11.96%。
这一数字对矿工意义重大。难度决定了找到新区块的难易程度。当难度下降时，在其他条件不变的情况下，相同的算力理论上可以产生更多的BTC。虽然最后这次0.03%的调整单独来看几乎没有任何影响，但自1月以来的累计下降幅度则更为显著。目前，全网总算力仍低于1,000 EH/s。近期区块的平均产出时间为10分48秒，略高于目标的10分钟。下一次难度调整预计将在10月18日左右进行。
矿工终获短暂喘息，但挑战犹存
9月实现的十亿美元收入并不能解决行业面临的所有问题。矿工仍然暴露在比特币价格波动、电力成本、设备持续更新以及全球能源获取竞争的风险之中。
For part of 2026, the industry is under tremendous pressure. In June, JPMorgan estimated that under the conditions at the time, about 20% of miners were no longer profitable. At that time, the price of computing power fell below $30 per PH/s. Today, it hovers around $40. This gap is obvious. This pressure also explains why many large mining companies no longer rely solely on Bitcoin. Power infrastructure, originally built for mining, has now attracted the interest of artificial intelligence and high-performance computing companies.
This summer, Bitcoin miners have signed the equivalent of $150 billion in artificial intelligence-related contracts, covering more than 7.5 gigawatts of capacity. Good September results should not hinder this diversification process. It just improves the profit equation of pure mining: Bitcoin's profits are higher than in spring, the difficulty remains below the level at the beginning of the year, and the price of computing power is in a more comfortable range. A record of about $1.15 billion was set in January, followed closely by $1.12 billion in September. For miners, we have seen worse situations.
