Solana Price Falls Below $90 as SOL ETFs Bleed Again
The Solana price fell below $90 on November 6, about two weeks after the Alpenglow upgrade went live. The Block, using SoSoValue data, says spot Solana ETFs lost $26.3 million this week. CoinTurk also reports SOL under $90 with ETF outflows in the mix.
What moved the Solana price
The Block puts SOL near $89.84 on Saturday morning. The fall came on a day when bitcoin hit a 77-day low and the market saw more than $1 billion in liquidations. In other words, Solana did not fall alone. The upgrade did not shield it from the wider selloff.
What the Solana ETF numbers say
Spot Solana ETFs lost $26.3 million in the week, The Block says, their fifth negative week in a row. Over those five weeks they have lost $165.4 million. BSOL lost $14.4 million and GSOL lost $5.4 million on Friday. Net assets slipped to $1.31 billion from $1.40 billion a week earlier.
However, the long view looks better. The same funds are still up about $676.2 million in net inflows for 2026. Reports differ on how big recent outflows were. FXStreet, for example, counts them differently, so we use The Block’s weekly figure and flag that the sources do not fully agree.
What Alpenglow is, and what it has not done
Solana’s Alpenglow page says the upgrade is live on mainnet. Coverage before the switch gave October 21 as the date. Its stated aim is to cut finality from about 12.8 seconds to 150 milliseconds. That is a target, and we have not seen it shown under full mainnet load. Only the Votor part is live. So far, faster finality has not stopped the price from sliding.
Miner math: Solana does not pay bitcoin miners, but the market does
Here is the live maths on November 7. Bitcoin is $75,752 and the network is 1007 EH/s, so hashprice is about $34.12 per petahash per day. That is what one PH/s of hashing earns before power.
| Machine | 5c/kWh | 8c/kWh | 12c/kWh | Break-even |
|---|---|---|---|---|
| Antminer S19 (95 TH/s, 3250 W) | -$0.66 | -$3.00 | -$6.12 | 4.2c |
| Antminer S19k Pro (115 TH/s, 2645 W) | $0.75 | -$1.15 | -$3.69 | 6.2c |
| Antminer S19 XP (141 TH/s, 3010 W) | $1.20 | -$0.97 | -$3.86 | 6.7c |
| Antminer S21 Pro (234 TH/s, 3510 W) | $3.77 | $1.25 | -$2.12 | 9.5c |
Numbers are profit per day after electricity, at the three power prices shown. Break-even is the most you can pay per kilowatt-hour before the machine loses money. Specs are the manufacturer ratings; network data comes from mempool.space. Try your own power price in our free bitcoin mining profit calculator. See what these machines really sold for in our used ASIC miner price index. Want to run the same numbers on a machine you can buy today? See our used ASIC miners, or buy several at once through bulk lots.
If the weak market drags bitcoin down 5% more: the break-even power price on an S19k Pro falls from 6.2 to 5.9 cents per kilowatt-hour. At 8 cents, daily profit goes from -$1.15 to -$1.35.
What it means for miners
Solana is proof of stake, so ASICs do not earn it. Our link to this story is the market. Altcoin ETF money leaving often tracks a risk-off mood, and that hits bitcoin too. Therefore, check the table above against your own power price. See our Bitcoin price prediction for the ranges we expect.
If the maths looks tight, read our mining economics guides. You can also browse all miners or sell us rigs through we buy used miners.
-Nick
ING Mining
This is general information, not financial advice. Crypto is volatile, and exchanges can fail. Please do your own research.
How this story was made: drafted with the help of AI tools from public sources, then edited by Nick Squires. See our editorial policy. Spot an error? Email ns@ingmining.com.