[REVISION HISTORY]

Bitcoin network hashrate and mining trends

1 recorded revision of this situation.

What changed

2026-10-22 18:04 UTC → 2026-10-23 06:16 UTC · added ~~removed~~

The Bitcoin network hashrate experienced significant volatility in late 2026. In late September, the seven-day moving average fell to a three-week low of approximately 915.8 EH/s, a decrease of roughly 34.86 million TH/s from the previous week. During this period, miner reserves also declined by 1,530 BTC. Industry analysts described this phase as a ‘hashrate bear market,’ noting that some miners were shifting capital and electricity toward artificial intelligence applications. By late October, the network hashrate rebounded, with the seven-day average climbing above 1 zettahash per second (ZH/s), reaching its highest level since ~~March.~~ March 3. This surge ~~was accompanied by~~ occurred despite a ~~5.92% increase~~ 23% decline in realized hashrate from major publicly traded mining ~~difficulty. While some large-scale miners~~ companies, which have seen a 52% quarterly increase in AI-related ~~revenue~~ revenue. The overall network capacity is being replenished by ~~diverting computing capacity,~~ other operators, including smaller and mid-sized miners who are absorbing displaced capacity by deploying secondhand hardware, such as Antminer S21 XP machines, in regions like Paraguay and Texas. On October 16, mining difficulty increased by 5.92% to 140.58 trillion, with projections suggesting another increase of approximately 5.16% at the ~~rising~~ next adjustment. This rapid rise in difficulty is compressing ‘hashprice’—the revenue earned per unit of ~~hashrate.~~ hashrate—from roughly $40 to $36.75 per petahash per day. This trend is creating profitability challenges for mid-tier operators and those utilizing older hardware, particularly those with electricity costs exceeding 8 cents per kilowatt-hour.

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