Bitcoin Hashrate Hits 946 EH/s Amid Mining Revenue Decline

On June 14, 2025, the Bitcoin network achieved a new milestone in computational power, reaching a hashrate of 946 exahash per second (EH/s) based on the seven-day simple moving average (SMA). This peak surpassed the previous all-time high of 943 EH/s recorded on May 31. As of 8 a.m. Eastern on Saturday, the hashrate measured 944.84 EH/s, indicating a sustained increase in the network's processing power.

This latest achievement came just after a slight difficulty adjustment, which saw a 0.45% dip, reducing the difficulty from 126.98 trillion to 126.41 trillion. Despite this minor relief, the difficulty remains high, continuing to pose challenges for miners. The next difficulty adjustment is anticipated around June 29, 2025. Out of the 12 difficulty changes this year, eight have been upward revisions, while four have been downward adjustments.

Despite the increase in hashrate, mining revenue has declined compared to levels seen 30 days ago. The hashprice, which measures the daily yield per petahash per second (PH/s), has dropped from $55.53 on May 14 to the current $52.92. In the past 24 hours, miners earned an average of 3.17 BTC from both block subsidies and transaction fees combined, with fees contributing just 1.32% to the total earnings.

Currently, block times are lagging behind the ideal 10-minute average. The next difficulty adjustment, scheduled for June 29, is tentatively projected to decrease by about 7.74%. However, this figure is subject to change and will likely shift significantly by the time the adjustment is implemented, especially if the hashrate remains at elevated levels and block production accelerates.

This surge in hashrate, despite the drop in mining revenue, highlights the resilience and commitment of miners to the Bitcoin network. The increased computational power not only enhances the network's security but also demonstrates the ongoing investment and belief in the cryptocurrency's future. Miners continue to push the boundaries of what is possible, even in the face of financial challenges, ensuring that the Bitcoin network remains robust and secure.