Summary

Bitcoin’s hashrate has officially surpassed 1 zettahash (1 ZH/s) for the first time. As of Friday, this new milestone comes alongside a notable decline in miner revenue, which has dropped to $42.40 per exahash, the lowest on record.

Key Details

• The network’s difficulty has increased by nearly 7%, marking the most significant adjustment since July 2024.
• Out of the last 17 adjustments, 14 have been positive.

Background

On January 31, the previous hashrate record was set at 975 exahashes per second (EH/s). The hashrate milestone signifies a 1,000-fold increase since the first recorded rate of 1 EH/s in 2016.

Additionally, this increase in difficulty serves to regulate the mining process, ensuring blocks are mined roughly every 10 minutes.

Recent CoinDesk research highlighted that despite hashrate rising, Bitcoin prices have not reflected the same upward trend. While the hashrate continues to climb, prices have seen a decline of approximately 10%, attributed largely to external factors like tariffs.

Conclusion

The current state of the Bitcoin market reveals a complex picture where advancements in mining technology and network efficiency contrast sharply against dwindling profits for miners.