Bitcoin’s (BTC) network hash rate has dropped 4% over the last 30 days, marking the sharpest decline in nearly 2 years. At the same time, increased volatility and a decline in prices highlight mounting stress among miners as profits dwindle. However, according to investment management firm VanEck, the miner capitulation may signal a bottom. Bitcoin Mining Power Falls as Price Weakness and China Shutdowns Hit Network VanEck’s mid-December 2025 Bitcoin ChainCheck report highlighted that 4% dip in the network hashing power was the largest since April 2024
source: https://beincrypto.com/bitcoin-miner-capitulation-hash-rate-bottom/