On-chain metrics show the 7-day average Bitcoin hashrate has climbed to an all-time high, even as BTC’s market price remains lower.
Hashrate Surges to Record Levels
The Bitcoin hashrate measures the combined computational power miners contribute to the network, expressed in hashes per second (H/s) and commonly reported in exahashes per second (EH/s).
A rising hashrate typically indicates miners are adding capacity or new operations are coming online, signaling that mining appears profitable for that group. Conversely, a falling hashrate usually reflects miners reducing operations because revenue no longer covers electricity and equipment costs. A year-long chart of the 7-day average shows the metric had been trading in a range for several months, with peaks inching only slightly higher each time.
That pattern changed recently: the 7-day average broke out of the range and surged to fresh highs. On Sunday the indicator pushed past the 1,000 EH/s mark — entering zettahash-per-second (ZH/s) territory.
A zettahash represents 10^21 hashes, or 21 zeros. While daily hashrate figures had exceeded this threshold earlier, this is the first time the 7-day moving average has settled above it.
The increase is notable because it came while Bitcoin’s price was on a downtrend.
Miner revenue is tied to BTC’s market value, so operators often expand or shut down depending on price movements. With hashrate rising despite falling prices, miners appear to be betting on an eventual price reversal. Difficulty Outlook Could Curb Growth
A factor that could slow miner expansion is the upcoming difficulty adjustment, which current estimates place at an increase of more than 5%. When difficulty rises, less-profitable miners are typically forced to reduce power or exit, and hashrate can retreat as a result.
Historically, difficulty hikes place pressure on marginal operations and can produce temporary dips in network hashpower. BTC Price
At the time of writing, Bitcoin is trading around $108,700, down roughly 2% over the past week.
