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Bitcoin’s network hashrate reached a record 659 exahashes per second in May, signaling a rapid recovery for miners following the network's fourth halving.
Bitcoin’s 7-day average hashrate reached a new all-time high of 659 exahashes per second (EH/s) on May 26 [1]. This milestone, representing the total computing power dedicated to mining and securing the blockchain, marks a 13.6% increase from the post-halving low of 580 EH/s recorded just 34 days earlier [1].
Key takeaways
The rapid rebound in network power is largely attributed to the ongoing integration of advanced mining hardware [1]. Leading manufacturers Bitmain and MicroBT released their most powerful and energy-efficient models in late 2023, allowing miners to generate more computing power per unit of electricity [1]. Because public miners—who represent roughly 20% of the total network—have placed substantial orders for these machines, analysts expect continued hashrate growth as these units are deployed throughout the remainder of the year [1].
While the halving event reduced the block reward from 6.25 BTC to 3.125 BTC, mining margins have remained more stable than some industry participants initially anticipated [1, 2]. This stability is partially due to an increase in transaction fees and a general rally in the price of bitcoin, which have helped offset the reduced block rewards [1].
The rise in hashrate creates a self-reinforcing cycle for the Bitcoin network. As more efficient machines come online, the total network hashrate increases, which in turn raises the difficulty of mining new blocks [1]. This heightened difficulty reduces the amount of bitcoin earned for the same amount of effort, compressing profit margins and forcing miners to continuously upgrade their equipment to remain competitive [1]. Consequently, miners who are unable or unwilling to transition to newer, more efficient ASIC fleets face the risk of being forced to unplug from the network entirely as the year progresses [1].
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It is a measure of the total computing power currently connected to the Bitcoin network, used by miners to validate transactions and add new blocks.
Miners may disconnect equipment when Bitcoin's market price falls below their production costs, making operations unprofitable.
New, more efficient hardware increases the total network hashrate, which in turn raises mining difficulty and necessitates further hardware upgrades to maintain profitability.
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 12, 2026 · How we report