Bitcoin Hashrate Up 88 EH/S From Low as Miners Seek Profitability

Bitcoin's hashrate continues to grow, adding 88 exahashes per second (EH/s) over the past 11 days after dropping to 810 EH/s on June 24. At the same time, miners are seeing an 11.62% increase in profitability compared to the previous month.

From Decline to Acceleration: Bitcoin Hashrate Has Increased Sharply, Profits Have Also Increased Significantly

Since hitting its low on June 24, Bitcoin's computing power has increased from 810 EH/s to 898 EH/s. The recovery comes after summer capacity cuts by U.S. miners, a sharp rise in prices, and a 7.48% network difficulty adjustment six days ago.

Source: hashrateindex.com

The network hashrate price — the estimated profit from one petahash per second (PH/s) of SHA256 computing power — has increased by 11.62% since June 5, when PH/s was worth $52.35, according to historical data from hashrateindex.com. At the time of writing, PH/s was worth about $58.43 on July 5, and was approaching $60 per PH/s on July 3.

Blocks are being processed faster than the usual average of 10 minutes, with current intervals around 9 minutes 19 seconds. At this rate, the next difficulty adjustment, scheduled for July 12, 2025, could see it increase. While the final value remains unknown, forecasts suggest a potential increase of 7.3%.

An increase of more than 7.48% will completely eliminate the last downward adjustment. The network difficulty is currently 116.96 trillion. The latest growth in hashrate and hashrate price indicates the rapid development of the mining sector, which is effectively adapting to changing conditions.

As Bitcoin miners return to higher margins and block times accelerate, the next adjustment could upset the balance between hash power and profitability. Events after July 12 will provide a more detailed look at how miners are coping with Bitcoin's changing pace.

Source: cryptonews.net