Bitcoin’s Hashrate Reaches 692 EH/s, Nearing 700 EH/s Milestone

After breaking the July 25, 2024 record on Saturday, Sept. 7, Bitcoin’s hashrate has kept climbing, now reaching an impressive 692.28 exahash per second (EH/s) on Sept. 8, which is more than 13 EH/s above the previous level. Bitcoin Smashes Another Hashrate Record, Climbing 66 EH/s in a Week On Sunday, Sept. 8, 2024, Bitcoin’s … Read more

Bitcoin Hashrate Hits Record High as Prices Drop Below $55K

As bitcoin dipped below $55K this week, something quite interesting happened behind the scenes. On Sept. 7, 2024, the network’s computational power hit a new lifetime high. The seven-day simple moving average (SMA) for Bitcoin’s total hashrate climbed to 679 exahash per second (EH/s) on Saturday, a slight bump of 2 EH/s over the previous … Read more

Bitcoin Miners Face Leanest Month of 2024: August Earnings Hit Year’s Low

Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August also dipped, reaching a low not seen since last year, with a $4.14 million drop compared to July. August Bitcoin Mining Revenue Drops $99.75M Lower Than July The ongoing effects … Read more

Bitcoin’s Latest Difficulty Rise Challenges Miners Already Facing Revenue Slump

On Aug. 28, Bitcoin’s mining difficulty bumped up by 2.99% at block height 858,816, pushing the metric from 86.87 trillion to a hefty 89.47 trillion. This tweak adds a bit more challenge for bitcoin miners, especially with hashprice values lingering at very low levels. Bitcoin Network’s Difficulty Jumps as Earnings Dwindle Bitcoin’s difficulty ticked up … Read more

Hashrate Climbs 25 EH/s in 8 Days as Bitcoin Miners Adjust to Network Difficulty Reduction

While Bitcoin’s hashprice has been languishing below $44 per petahash per second (PH/s) each day, the network’s hashrate is beginning to climb once more. Between Aug. 9 and Aug. 17, the hashrate increased from 612 exahash per second (EH/s) to 637 EH/s, adding 25 EH/s over eight days. Miners Increase Bitcoin’s Hashrate After Difficulty Decline … Read more

Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s Profits

With the first half of August in the rearview mirror, it’s clear that bitcoin miners are facing a challenging month, having only accumulated 36.36% of the total revenue they made in July. A combination of bitcoin’s price fluctuations and reduced onchain fees has left miners in a much tighter spot. Bitcoin Miners Face a Hard … Read more

Bitcoin Difficulty Reduction Incoming? Miners Brace for a Major Shift on Aug. 14

Following the latest difficulty change 11 days ago when the metric increased by 10.5%, Bitcoin’s difficulty is estimated to shift downward between 4% to 5.3% on Aug. 14. Bitcoin’s All-Time High Difficulty Faces Estimated Reduction Bitcoin miners may get some relief in three days when the difficulty retarget shifts following the largest difficulty rise so … Read more