# Bitcoin Hashrate Hits Record High Following Network Halving

**Published:** 2026-06-12T12:01:29.030Z  
**Topic:** Bitcoin Hashrate  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/f8d70ec3-aaba-46c3-9cf8-552832b1fedd

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 network reached its new hashrate record just 34 days after the April 22 halving, a faster recovery than the 56-day and 37-day periods seen after the 2020 and 2016 events, respectively [1].
* Mining resilience is supported by a combination of a market rally and increased transaction fees, which have helped sustain earning potential [1].
* The deployment of next-generation, energy-efficient hardware from manufacturers like Bitmain and MicroBT is a primary driver of the current hashrate growth [1].
* Public mining companies have scheduled the delivery of 76.6 EH/s in new equipment throughout 2024, accounting for a significant portion of the network's expansion [1].

## The role of hardware and market conditions
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].

## Why it matters
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].

## Sources
1. Forbes — [Bitcoin Hashrate Hit New High This Week as Miners Shake Off...](https://www.forbes.com/sites/colinharper/2024/05/31/bitcoin-hashrate-hit-new-high-this-week-as-miners-shake-off-halving/)
2. Nicehash — [Bitcoin halving countdown | NiceHash](https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00)
3. News — [Miners Race to Discover Block 840,000 as Bitcoin Halving Nears](https://news.bitcoin.com/miners-race-to-discover-block-840000-as-bitcoin-halving-nears/)

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Cite as: TrendWatcher, "Bitcoin Hashrate Hits Record High Following Network Halving", https://www.trendwatcher.in/article/f8d70ec3-aaba-46c3-9cf8-552832b1fedd