Bitcoin hashrate nears record high as stable mining rewards strengthen network security

Bitcoin’s computational power is once again approaching historic levels, with the Bitcoin hashrate hitting 942.96 exahashes per second (EH/s) on July 27—just 3 EH/s shy of its peak.

The sustained high Bitcoin hashrate shows robust miner participation, driven by stable earnings and improved network security. With block times accelerating, analysts expect a difficulty adjustment by August 8 to recalibrate mining competition.

Leading the charge is Foundry USA, which commands 299.58 EH/s—nearly a third of the total hashrate—followed by F2Pool and AntPool in a fiercely competitive market.

Why the Bitcoin hashrate surge matters

Bitcoin hashrate is a barometer of miner confidence and network health. A higher hashrate means more computational power secures the blockchain, making attacks exponentially harder.

“When the hashrate climbs, it’s a vote of confidence from miners,” says Alex Brammer of Luxor Mining. “Profitability has stabilized, and that’s attracting reinvestment.”

Recent data supports this:

• Hashprice (miner revenue per unit of computing power) has hovered between $58–$60 PH/s, up from June lows of $54.

• Block times have dipped to 9 minutes 44 seconds, faster than Bitcoin’s 10-minute target.

This momentum suggests miners are deploying more hardware—a trend that could trigger a 5–7% difficulty increase next month, according to Bitrawr estimates.

Mining economics: Stability breeds growth

The Bitcoin hashrate’s rebound follows months of volatility, but recent conditions have favored miners:

1. Price recovery: BTC’s 20% rally since June lifted revenue.

2. Efficiency upgrades: Newer rigs like the Bitmain S21 dominate, squeezing out older models.

3. Transaction fees: Though subdued, fees contribute ~5% of earnings, supplementing block rewards.

“The sweet spot for miners is when hashprice stays above $55 PH/s,” notes Jaran Mellerud of Hashrate Index. “We’re there now—but a difficult jump could tighten margins.”

Foundry cements lead in Bitcoin hashrate race

The mining pool Foundry USA has extended its dominance, contributing 299.58 EH/s—more than double second-place F2Pool’s 143.24 EH/s.

This reflects North America’s growing share of the Bitcoin hashrate, fueled by institutional investment and renewable energy projects.

Yet challenges loom:

• Energy costs: Rising electricity prices in Texas (a mining hub) could pressure profits.

• Regulatory scrutiny: The U.S. DOE’s emergency survey of miner power usage remains contentious.

“The Bitcoin hashrate growth proves mining is maturing, but external factors will dictate sustainability,” says Amanda Fabiano, ex-Fidelity mining lead.

With the next difficulty adjustment due August 8, miners face a pivotal moment:

• If the Bitcoin hashrate holds, earnings per miner may dip.

• A price rally could offset higher difficulty, extending the stability cycle.

For now, the Bitcoin hashrate’s resilience underscores a broader trend: miners are betting long-term on Bitcoin’s infrastructure—one hash at a time.