Bitcoin Hashrate Hits New High as Miners Ride Price Wave
With Bitcoin rising to levels seen in early February, the network's computing power has reached a record 929 exahashes per second (EH/s), a metric that shows how actively miners are competing to add the next block.
Miners step up their efforts: Bitcoin network sets record of 929 EH/s
Bitcoin's hashrate has risen about 3 EH/s above its previous peak of 926 EH/s on Tuesday, April 8, 2025, indicating steady growth rather than a temporary blip. On Friday, May 9, 2025, the rate temporarily approached 929 EH/s before settling around 924.78 EH/s by 10 a.m. ET, indicating the near-infinite hum of machines around the world.
Seven-day simple moving average (SMA) of Bitcoin hashrate according to hashrateindex.com as of May 9, 2025.
Miners are reaping big profits as the rising price of Bitcoin fills their coffers, ending a period of shortages that preceded the rally. Hashprice — the current estimate of the daily cost of 1 petahash per second (PH/s) of computing — has increased by 37.83%, jumping from $40.04 to $55.18 per petahash in just a few weeks.
They also enjoyed a temporary respite on May 3, when mining difficulty dropped by 3.34%, reducing the effort required to find a block. After this recalibration, blocks were generated at a rate of nine minutes and 33 seconds, faster than the 10-minute target — a pace that could lead to another difficulty increase on May 17, 2025. Of course, computing power fluctuates, so the final adjustment remains uncertain for the coming week.
If recent gains in hashrate and miner revenue are any indication, the arms race to secure Bitcoin may be entering a new phase of capital allocation and hardware improvements. The upcoming difficulty adjustment will test whether operators can maintain the current momentum or whether increasing network demands will require another round of innovation, consolidation, and operational discipline among competing pools around the world.
Source: cryptonews.net
