Bitcoin miners are increasingly relying on renewable power to offset costs as hash prices fall below the critical $40 profitability threshold. According to mining data provider Hashrate Index, Bitcoin’s hash price stands at about $38.56 per petahash second per day (PH/s/day), down from roughly $55 per PH/s/day in Q3 2025. Thus, companies like Sangha Renewables are using more renewable energy for their operations.
According to TheMinerMag’s research, the firm recently energized a 20-megawatt (MW) solar-powered mining facility in Ector County, Texas, in partnership with TotalEnergies.
Due to its deregulated power market, abundant renewable resources, and flexible grid infrastructure, Texas has become one of the world’s leading locations for Bitcoin mining. In the state, most mining companies participate in demand response programs, which enable them to shut down operations during periods of peak electricity demand in exchange for grid credits or compensation.
Under the agreement, Sangha is responsible for the mining facility and its equipment. At the same time, TotalEnergies will supply retail electricity, offering firm power when solar energy is unavailable and providing tools to manage price volatility.
Phoenix Group and Canaan companies are focusing on renewable energy
Phoenix Group had also announced in November that it had started a 30-megawatt hydro-powered mining operation in Ethiopia, while in September, Canaan and Soluna partnered to deploy a wind-powered mining site in Texas’s Briscoe County. Canaan is also innovating a mining rig that dynamically adjusts energy usage with AI while balancing electrical loads.
Overall, Bitcoin miners are facing tough times, with falling rewards driving profit margins to their most challenging levels ever. Analysts have noted that the nearly 40% drop in Bitcoin to around $81,000 by late November has made each block reward worth less in dollars, directly impacting mining revenue. Moreover, in early November 2025, network difficulty also increased to 156 trillion, a 6.3% rise, which heightened competition among miners and reduced the coins each miner earns per unit of computing power.
Additionally, following the April 2024 halving, each block now yields 3.125 BTC instead of 6.25, immediately halving the rewards available to miners. The pressure from halving, low Bitcoin prices, near-peak difficulty, and minimal transaction fees has sent hash price to historic lows.
However, some have instead sought alternative ways to reduce costs by shutting down rigs and offloading surplus equipment. A recent reading of the hash ribbon, a technical indicator based on Bitcoin hashrate averages, has signaled a major capitulation among miners.
Bitcoin’s total mining hashrate is still increasing
Still, Bitcoin’s total mining hashrate, representing the computing power protecting the protocol, is at an all-time high. Though it fluctuates day-to-day, the overall trend is rising, reaching one zetahash in April.Â
An expanding hashrate means miners must scale up computing power to stay competitive. In November, Tether stated that rising energy prices compelled it to scale back its mining operations in Uruguay.
Meanwhile, the ROI (return on investment), under today’s economics, has ballooned to roughly 1,000 days or more, including for the latest ASIC machines. The timeline is critical because it’s longer than the wait to the next halving. With roughly 850 days until 2028, machines purchased today will face a 50% reward cut before breaking even, reducing the odds that they will ever recoup their costs unless economic conditions improve significantly.
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