Bitcoin News Today: Bitcoin Hashrate Surpasses 970 EH/s as Mining Power Hits New Record

Bitcoin’s hashrate surged past 970 exahash per second (EH/s) on Thursday, marking a new record for the network’s total computational power. This represents a significant jump from the previous high of 946 EH/s and indicates that mining activity is intensifying globally. The hashrate currently stands at 967.20 EH/s, close to the newly set benchmark. This increase coincides with a price rebound for Bitcoin and a rise in miner earnings, as the estimated hashprice climbed to $58.14 per petahash, reflecting the growing value of each unit of hashing power [1].

The increase in hashrate has also led to a reduction in block discovery times, which had recently fallen below the 10-minute average. As of now, blocks are being mined at an average interval of 9 minutes and 51 seconds, signaling that the network is processing transactions more efficiently. With 187 blocks left until the next difficulty adjustment, the likelihood of a difficulty increase appears high. If the current pace continues, the next adjustment—expected on Aug. 8, 2025—could see a rise of approximately 1.46%, further reinforcing the network’s increasing complexity [1].

A hashrate of 970 EH/s brings Bitcoin closer to the symbolic 1,000 EH/s threshold and highlights the network’s ongoing march toward 1 zettahash per second (ZH/s). This milestone reflects broader trends in the mining sector, including the adoption of more advanced hardware and the expansion of mining operations. As larger mining entities with access to low-cost energy dominate the landscape, concerns around decentralization and the sustainability of smaller operations have grown. Yet, the network’s ability to absorb such vast increases in power without major instability underscores its resilience [2].

The surge in mining power is closely tied to stable energy costs and favorable market conditions, which have enabled miners to sustain and expand their operations. A higher hashrate enhances network security by increasing the computational effort required for a potential 51% attack. However, it also raises the difficulty for new or small-scale miners, who must invest more to remain competitive. This dynamic reflects the ongoing maturation of the mining industry and its transformation into a more institutionalized and capital-intensive sector [2].

As the hashrate continues to climb, it reinforces Bitcoin’s role as a secure and reliable blockchain, with infrastructure that can scale to meet growing demand. While challenges remain for smaller participants, the overall strength of the network is evident, and its ability to adapt to increasing mining activity highlights the long-term structural durability of the Bitcoin system [2].

Source: [1] Bitcoin's Hashrate Blasts to 970 EH/s as Mining Power Hits ... (https://news.bitcoin.com/bitcoins-hashrate-blasts-to-970-eh-s-as-mining-power-hits-insane-new-record/)