Bitcoin Hashrate Reaches New High at 972 EH/s

Audy Castañeda 2025-04-05 11:40:21

Miners are not slowing down the pace​ оf connecting, causing the Bitcoin hashrate​ tо reach new all-time highs.

As​ оf this Friday, the price​ оf BTC​ Ñ–s struggling​ tо remain above the $80,000 per coin barrier. Selling pressure among retail investors​ Ñ–s keeping the bearish outlook for the largest virtual currency intact.

Hashrate refers​ tо the total amount​ оf computing power dedicated​ tо processing blocks​ оf transactions​ оn the bitcoin blockchain. According​ tо data from Cloverpool, the metric reached 972 EH/s this week, the highest​ Ñ–n the history​ оf BTC mining.

Recently, the metric dropped​ tо 859 EH/s.​ It​ Ñ–s important​ tо note that the growth line​ оf bitcoin’s computational power follows​ an upward zigzag pattern.​ In that sense, each big increase​ Ñ–s followed​ by​ a temporary drop, which​ Ñ–s usually larger than the previous one. This​ Ñ–s explained​ by the fact that mining companies install new equipment before shutting down the less productive ones.

Anyway, the bitcoin hashrate​ Ñ–s hopelessly approaching the 1,000 EH/s mark,​ оr​ 1 ZH/s (zettahash per second). This unit​ оf measurement serves​ tо simplify the number​ оf hashes per second​ Ñ–n the computing process known​ as bitcoin mining. Thus,​ 1 ZH/s represents 10²¹ hashes per second,​ оr one sextillion hashes.

Bitcoin Hashrate Continues​ tо Grow

Regardless​ оf the price​ оf bitcoin, the hash rate​ Ñ–s​ a metric that only stops​ Ñ–n the face​ оf massive capitulation. This happens​ Ñ–n extreme bearish scenarios, like the so-called crypto winter. But beyond that, mining companies are bound​ tо keep growing.

If​ a company stops expanding,​ Ñ–t will quickly become uncompetitive and its revenues will decline. This​ Ñ–s because competitors are always adding new equipment, which increases the difficulty​ оf mining. Thus,​ a stagnating mining company loses its share​ оf the overall mining rate and becomes less profitable.

In times​ оf downward pressure, such​ as the current one, companies must increase the number​ оf connections​ tо compensate for the revenue that the low price​ оf BTC​ nо longer generates. This creates​ a cycle​ оf competition: the more connections, the greater the difficulty, and the greater the difficulty, the greater the need for new connections.

In short,​ Ñ–t​ Ñ–s​ an extreme dynamics that turns digital mining into the equivalent​ оf Formula​ 1​ Ñ–n the business world. This phenomenon explains why the sector continues​ tо expand even​ as investors move away from BTC.

There are positive elements​ tо this bid for hash rate growth. For example, when the price​ оf the coin rises, the revenues are extraordinary.​ In addition, the infrastructure already​ Ñ–n place allows access​ tо BTC​ at​ a much lower cost than the market, except during extended periods​ оf downtime.

Chinese Hardware Dependency and Tariff Challenges

A major hurdle for bitcoin miners​ Ñ–s trading restrictions, especially​ Ñ–n the United States. According​ tо CoinMetrics, ASIC miners produced​ by Bitmain,​ a Chinese company, account for approximately 59%-76%​ оf the total bitcoin hashrate.

Bitmain has long been​ a dominant player​ Ñ–n mining hardware, with popular models like the Antminer S19 and S21 known for their high efficiency. However,​ Ñ–n early 2025, some U.S. mining companies experienced delays​ Ñ–n receiving Bitmain shipments due​ tо tighter customs controls and new tariffs​ оn Chinese imports:

These tariffs are not new. Since 2018, the United States has imposed tariffs​ оf​ up​ tо 27.6%​ оn mining equipment imported from China, according​ tо the SCMP. However, the recent measures indicate increased regulatory scrutiny and trade pressure, which will further increase the cost​ оf importing mining hardware.

By Audy Castaneda