Bitcoin Hashrate Tops 1 Zettahash While Miner Earnings Drop to All-Time Low

Key Points:

• Bitcoin’s hashrate reached a new record, surpassing 1 zettahash per second (1 ZH/s), even as miner earnings per exahash fell to an all-time low of $42.40.

• The latest 7% increase in network difficulty—the biggest jump since July 2024—represents the 14th upward adjustment in the last 17 cycles.

Bitcoin’s hashrate surpassed 1 zettahash (1 ZH/s) for the first time ever on Friday, based on data from Glassnode. The previous peak was set on January 31, when the network reached 975 exahashes per second (EH/s).

Bitcoin initially hit 1 EH/s back in 2016, a milestone that has since increased by 1,000 times.

Research published on April 3 highlighted the ongoing rise in Bitcoin’s hashrate, even as its price showed a disconnect from this upward trend. Since then, Bitcoin’s price has dropped another 10%, partly due to President Trump’s tariffs, and is currently hovering around $77,000.

The analysis also noted that examining the hashrate on a 24-hour basis can be misleading due to the natural variability in block times, which contributed to the new record. More reliable insights are typically derived from longer-term averages, like the 7-day moving average, which currently stands at 879 EH/s. However, it’s worth emphasizing that the achievement remains a significant milestone.

As of Sunday, Bitcoin’s difficulty adjustment surged by nearly 7%, reaching a record high of 121.5 trillion (T). This marks the largest increase since July 2024. Out of the last 17 adjustments, 14 have been positive, according to data from Glassnode. This adjustment mechanism ensures blocks are mined roughly every 10 minutes, keeping the network stable.

At the same time, miner revenue per exahash—referred to as hashprice, a measure of daily income relative to hash power—dropped to an all-time low of $42.40. This decline is attributed to a combination of low transaction fees, rising network difficulty, and the relatively low price of Bitcoin.