Bitcoin News Today: Bitcoin Hashrate Surges to 945 EH/s, Nears June Record as Mining Profitability Rises 10%

Bitcoin’s hashrate has surged to 945 exahash per second (EH/s), just 1 EH/s shy of its June 13 all-time high of 946 EH/s, according to data from hashrateindex.com[1]. This marks a significant milestone as the network’s computational power inches closer to its previous peak. The increase is attributed to steadier mining profitability over the past month, with hashprice—the cost of securing a share of the network’s computing power—rising to $64 per petahash per second (PH/s) by July 10 before retreating to a range of $58–$62 PH/s[1]. Current hashrate levels suggest a potential difficulty adjustment at the August 8 retarget if the accelerated block confirmation rate (currently 9 minutes and 44 seconds) persists[1].

Mining pools remain concentrated, with Foundry leading at 247 EH/s, followed by Antpool (183 EH/s) and ViaBTC in the top three. These pools collectively hold a strategic edge, leveraging their massive hashrate shares to maintain dominance. Analysts note that efficiency gains and strategic scaling will likely determine which operators thrive as competition intensifies[1]. The top 10 mining pools include F2pool, MARA Pool, Spiderpool, Secpool, Luxor, Binance Pool, and Braiins Pool, reflecting a tightly contested landscape[1].

The hashrate surge aligns with broader trends in mining infrastructure and energy usage. Reports highlight a 68% reliance on renewable energy sources, driven by operators in North America, as lower-cost hydro and solar power reduce operational costs[2]. However, critics caution that fossil fuel dependency in certain regions continues to challenge the industry’s sustainability narrative[2]. Analysts also link the current hashrate trajectory to historical patterns, where peaks often precede price rallies by 3–6 months. While Bitcoin’s next halving event remains over two years away, short-term drivers such as new hardware maturation and seasonal energy availability are likely fueling the recent uptick[2].

Network security remains a focal point, with the elevated hashrate signaling sustained institutional interest in mining operations. However, maintaining this growth hinges on energy efficiency and regulatory stability, particularly in jurisdictions where mining remains politically sensitive[2]. Market participants are cautiously optimistic, viewing the near-record hashrate as a positive indicator for long-term network resilience despite near-term volatility in hashprice metrics[1].

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[1] [Bitcoin’s Hashrate Brushes All-Time High as Miners Close in on June Peak] [https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=bitcoins-hashrate-brushes-all-time-high-as-miners-close-in-on-june-peak]

[2] [Bitcoin’s Hashrate Brushes All-Time High as Miners Close in on June Peak] [https://news.bitcoin.com/bitcoins-hashrate-brushes-all-time-high-as-miners-close-in-on-june-peak/]