Hashrate Bitcoin online
The Bitcoin hashrate is the total computing power of all miners on the network. Record-breaking growth in the hashrate signifies increased security and miners' confidence in the long-term value of BTC.
Hashrate and Difficulty - Historical Data
| Date | Hashrate (EH/s) | Complexity | BTC price | Difficulty change |
|---|---|---|---|---|
| April 2024 | ~ 620 EH/s | 86.4T | $70,000 | +7.1% |
| January 2024 | ~ 524 EH/s | 72.0T | $44,000 | +6.9% |
| January 2023 | ~ 270 EH/s | 37.6T | $17,000 | -0.5% |
| November 2022 | ~ 250 EH/s | 36.8T | $16,000 | -7.3% |
| November 2021 | ~ 190 EH/s | 24.3T | $68,000 | +3.4% |
| May 2021 | ~ 160 EH/s | 25.0T | $35,000 | -28.6% |
Bitcoin's hashrate as an indicator of network health
The Bitcoin hashrate is the combined computing speed of all miners supporting the network. It is measured in exahashes per second (EH/s). In 2024, the Bitcoin hashrate reached its all-time high of over 600 EH/s, 6,000 times higher than the 2017 value (approximately 0.1 EH/s). This means that a 51% attack on the network would require the concentration of colossal computing resources worth hundreds of billions of dollars.
Following the mining ban in China in May 2021, Bitcoin's hashrate fell by approximately 50% in just a few weeks, from 180 EH/s to 85 EH/s. At the time, many analysts predicted a network collapse. However, thanks to the difficulty adjustment mechanism, the network adapted and restored the hashrate to its previous levels within three months. By November 2021, the hashrate had already exceeded 180 EH/s again.
Research shows that the hash rate follows the Bitcoin price over the long term with a lag of 3-6 months: miners react to changes in mining profitability by adding or removing equipment. A sharp drop in the hash rate is a warning sign: miners begin selling coins under pressure, which puts downward pressure on the price.
Key Concepts of Hashrate
Difficulty adjustment
Every ~2016 blocks (~2 weeks), Bitcoin's difficulty is automatically recalculated. If blocks are found faster than 10 minutes, the difficulty increases. Slower than that, the difficulty decreases. This stabilizes the BTC supply.
Hash Ribbons
The crossover indicator between the 30-day and 60-day moving averages of the hashrate. When the 30-day moving average crosses the 60-day moving average from below after miners capitulate, it's historically one of the best buy signals for BTC.
Hash Price
Daily profitability of 1 PH/s of hashpower in USD. The record high was around $400/PH/s in 2021. After the 2024 halving and with a high hashrate, the hash price is under pressure—only efficient miners survive.
Miners capitulate
When miners operate at a loss and are forced to sell their BTC reserves, the hash rate drops. Historically, periods of miner capitulation have coincided with bear market bottoms—June 2019, November 2022.