Bitcoin’s Hashrate Hits New Peak as Miners Ride Price Wave

Riding bitcoin’s climb to levels last glimpsed in early February, the network’s raw processing muscle has rocketed to a record-setting 929 exahash per second (EH/s), a horsepower figure that illustrates just how fiercely miners are competing to add the next block.

Miners Power Up: Bitcoin Network Reaches Record 929 EH/s

Bitcoin’s hashrate surged roughly 3 EH/s above the 926 EH/s peak logged Tuesday, April 8, 2025, highlighting a steady march higher rather than a single‐day jolt. On Friday, May 9, 2025, the tally briefly kissed 929 EH/s before settling near 924.78 EH/s at 10 a.m. Eastern, showcasing an almost-ceaseless hum of machinery across the globe.

Bitcoin hashrate seven-day simple moving average (SMA) according to hashrateindex.com on May 9, 2025.

Miners are seeing fatter margins as bitcoin’s price climb fattens coffers, reversing the leaner spell that preceded this rally. Hashprice—the spot estimate for the daily value of 1 petahash per second (PH/s) of compute—has vaulted 37.83%, leaping from $40.04 to $55.18 per petahash in just a matter of weeks.

They also enjoyed a breather on May 3, when mining difficulty slid 3.34%, trimming the raw effort required to discover a block. Since that recalibration, blocks have been arriving at a zippy nine minutes 33 seconds, faster than the 10-minute target—a cadence that could pave the way for another difficulty bump on May 17, 2025. Of course, hashpower ebbs and flows, so the final adjustment remains fluid over the week ahead.

If recent gains in computational heft and miner earnings are any indication, the arms race securing bitcoin may be entering a fresh phase of capital allocation and hardware refinement. The coming difficulty pivot will test whether operators can maintain current momentum or if the network’s higher bar compels another round of innovation, consolidation, and operational discipline among competing pools worldwide.

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