Cryptocurrency mining profitability remains under pressure across major proof-of-work networks, according to new data shared by Alphractal, which shows the sector is experiencing stagnation and reduced returns.
The analytics platform said that while miners continue to play an important role in maintaining network security and decentralization, the data suggests that profitability remains difficult across major proof-of-work networks.
Growing Pressure on Miners
Alphractal’s Mining Equilibrium Index compares miners’ average revenue per hash over 30 days against the 365-day average. Readings above 1.0 signal above-average profitability, while values below 0.5 point to stressed conditions for miners.
Among the four largest proof-of-work assets tracked by the index, Bitcoin posted the highest reading at 0.75, which makes it the strongest performer in terms of mining profitability.
Bitcoin Cash (BCH) followed at 0.66, which suggests relatively better conditions than the rest of the group. The OG meme coin, Dogecoin (DOGE), registered a score of 0.60, as mining profitability declined significantly over the years. Litecoin (LTC), on the other hand, recorded the lowest reading at 0.58, making it the weakest performer among the four assets.
However, Bitcoin’s position at the top of the list does not necessarily point to favorable conditions for miners. As recently reported by CryptoPotato, Bitcoin mining difficulty fell by more than 10%, in one of the largest downward adjustments of the year, and demonstrated that fewer miners are participating in the network. At the same time, the Bitcoin hash rate has continued to decline.
The figure briefly dropped below 790 EH/s this month from record levels above 1.2 ZH/s reached last year.
Alphractal also acknowledged that the current environment has made crypto mining increasingly dependent on access to capital, operational efficiency, and patience.
BTC Sales By Mining Companies
Several publicly listed Bitcoin miners have been selling their BTC holdings at the fastest pace since the previous crypto bear market. Back in April, The Energy Mag published a report that revealed that major mining companies such as MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer collectively sold more than 32,000 BTC during the first quarter of 2026.
The amount of Bitcoin sold surpassed the combined net sales recorded throughout all four quarters of 2025. The figure also set a new industry record as it exceeded the roughly 20,000 BTC liquidated by public miners during the second quarter of 2022, when the market was shaken by the collapse of the Terra-Luna ecosystem.
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