State of the Network: December 2025

December 2025 State of the Network Report

This report provides an overview of the Swarm network’s key metrics for December 2025, including rewards, participation levels, and node distribution, and places them in context with recent monthly trends.

Network Total Monthly Rewards

This metric shows the total storage incentive rewards paid out across the network each month.

Month	Total Network Rewards (xBZZ)
July	37,249
August	41,496
September	28,162
October	28,337
November	39,109
December	38,477

Total network rewards in December reached 38,477 xBZZ, representing a slight decrease compared to November’s 39,109 xBZZ.

Monthly Median Win Values

Month	Median Win Values (xBZZ)
July	10.00
August	11.07
September	8.33
October	8.10
November	12.04
December	11.53

The median win value in December was 11.53 xBZZ, slightly lower than November’s 12.04 xBZZ.

Monthly Average Win Values

Month	Average Win Values (xBZZ)
July	11.07
August	12.28
September	8.60
October	8.34
November	13.09
December	11.68

Average win values decreased to 11.68 xBZZ in December from 13.09 xBZZ in November.

Active Staking Node Monthly Average Earnings

Month	Avg Total Earnings per Node (xBZZ)
July	10.79
August	11.33
September	7.73
October	8.33
November	19.40
December	≈ 18.68

Average earnings per active staking node in December were approximately 18.68 xBZZ, slightly below November’s 19.40 xBZZ. Despite this small decline, per-node earnings remain historically high compared to the preceding months.

Total Active Staking Nodes by Month

Month	Total Active Staking Nodes
July	3,453
August	3,663
September	3,643
October	3,400
November	2,018
December	2,060

The total number of active staking nodes increased slightly to 2,060 in December, up from 2,018 in November.

Total Reachable Full Nodes Regardless of Active Status

Month	Total Reachable Full Nodes
July	9,753
August	7,097
September	7,063
October	7,071
November	5,299
December	4,760

Total reachable full nodes declined further to 4,760 in December, down from 5,299 in November.

Total Winning Nodes by Month

Month	Total Winning Nodes
July	1,806
August	1,738
September	1,701
October	1,668
November	1,433
December	1,513

The number of winning nodes increased to 1,513 in December, up from 1,433 in November. This indicates that, despite fewer overall reachable nodes, a slightly larger portion of active participants successfully won rewards during the month.

Total Active Staking Nodes by Country

Country	Total Active Staking Nodes
Finland	1963
Unknown	61
Hungary	11
Ireland	4
Estonia	3
India	3
France	2
Germany	2
Spain	2
United States	2
Brazil	1
Japan	1
Martinique	1
Portugal	1
Russia	1
Thailand	1
Ukraine	1

Active staking nodes in December continue to be heavily concentrated in Finland, which accounts for the majority of active participants.

Total Nodes By Country Regardless of Staking Status

Country	Unique nodes
Germany	2412
Finland	1839
Thailand	140
Unknown	64
Hungary	11
Ireland	5
United States	4
Canada	3
Estonia	3
Russia	3
Switzerland	2
Australia	1
Brazil	1
Czechia	1
France	1
Japan	1
Lithuania	1
Malaysia	1
Singapore	1
Slovenia	1
Spain	1
The Netherlands	1
Ukraine	1

When considering all reachable nodes regardless of staking activity, Germany and Finland continue to dominate the network by a wide margin.

Conclusion

December 2025 reflects a period of partial stabilization following November’s more pronounced shifts. While rewards and win values decreased slightly, they remain elevated compared to earlier months. Participation metrics show mixed signals: active and winning node counts recovered modestly, but the total number of reachable full nodes continued to decline.