Bitcoin’s hashrate has surged to 929 EH/s, marking a new record amidst rising prices. Miners are enjoying fatter margins, with a substantial increase in hashprice. A decrease in mining difficulty earlier this month has also led to quicker block generation times, indicating a potential need for further adjustments soon. This suggests a new phase of capital and innovation among miners as they adapt to the evolving landscape.
Bitcoin has hit a remarkable milestone recently, with its hashrate soaring to an all-time high of 929 exahash per second (EH/s). This surge comes as the cryptocurrency’s price rises, reminiscent of levels not seen since early February. It’s a clear signal that miners are intensely competing to secure their stake by adding the next block, revealing the fierce energy driving this sector.
The hashrate increased approximately 3 EH/s above the previous record of 926 EH/s that was recorded on April 8, 2025. This growth pattern highlights a sustained upward trajectory rather than a sudden spike, as seen when the figure briefly touched 929 EH/s before stabilising around 924.78 EH/s by 10 a.m. Eastern on Friday, May 9th. This consistency demonstrates a relentless operation of mining machinery globally
Miners are reaping the benefits of this price rally, with substantial margins returning after a period of more modest earnings. The metric known as hashprice, which estimates the daily value of 1 petahash per second (PH/s) of computing power, has surged an impressive 37.83% within weeks—jumping from $40.04 to $55.18 per petahash.
Additionally, another boon came on May 3, when mining difficulty decreased by 3.34%—an adjustment that lessens the effort needed to find a block. As a result, blocks have been consistently generated at a quicker pace of nine minutes and 33 seconds, which is quicker than the target of ten minutes, suggesting a potential need for another difficulty adjustment on May 17, 2025. Naturally, fluctuations in hashpower mean this adjustment schedule remains in a state of flux as the week progresses.
These recent gains in both the computational strength and miner revenues could signal a new phase in the bitcoin landscape, characterised by fresh capital investments and advancements in hardware. Looking ahead, the next difficulty adjustment will certainly test if miners can sustain this momentum, or if the increased demands of the network will prompt further innovation and strategic consolidation among mining operations worldwide, refining their approaches in this competitive arena.
