Bitcoin's network hashrate has jumped 42% over the past three months, rising from 110 exahash per second (EH/s) on August 13 to 157 EH/s today, coinciding with a 36% price increase that pushed BTC consistently above the $60,000 mark. This surge follows a sharp recovery from China's mining crackdown earlier this year, highlighting the resilience of the global mining ecosystem.
Hashrate Landscape: 157 EH/s and the Rise of Unknown Miners
At press time, approximately 14 known mining pools contribute to the network, but an additional 16.39 EH/s (10.24% of total) comes from unidentified sources categorized as "unknown" miners. This stealth segment ranks as the fifth-largest "pool" in terms of hashpower. Over the past three months, hashrate has briefly surged above 180 EH/s on three occasions since October 25, indicating volatile but upward momentum. The overall trajectory—42% higher than three months ago—demonstrates a rapid capacity expansion driven by renewed miner confidence after the post-China relocation phase.
Nine Consecutive Difficulty Adjustments: Mining 50% Harder
Bitcoin's mining difficulty has been adjusted upward nine times in a row since July 17, 2021, meaning it is now over 50% more difficult to mine a block than it was three months ago. Each adjustment occurs every 2,016 blocks (roughly two weeks) based on the average hashrate during that period. The streak of nine consecutive increases is historically rare and reflects sustained growth in computation power that outpaces the network's target block time. As a result, miners must deploy more advanced hardware or lower electricity costs to maintain profitability.
Top Four Pools Command 58.6% of Network Hashrate
Over the last three days, the four largest mining pools collectively controlled 58.6% of the global hashrate: F2Pool leads with approximately 28.51 EH/s, followed by Antpool (26% share), Foundry USA (12.69%, about 20.32 EH/s), and Viabtc rounding out the top five with 11.8% (18.89 EH/s). The presence of Foundry USA as the third-largest pool underscores the shifting geographic center of Bitcoin mining from China to North America, as American institutional miners have ramped up operations following the Chinese government's ban.
Miner Profitability: $34-$45 Daily with Top Rigs
At current BTC prices (~$65,000), mining difficulty, and electricity costs of $0.07/kWh, the most profitable miners on the market generate daily returns between $34 and $45. The Microbt Whatsminer M30S++ (112 TH/s) brings in $44.77 per day, while the Bitmain Antminer S19 Pro (110 TH/s) yields $44.24. Canaan's Avalonminer 1246 (90 TH/s) produces approximately $34.92 per day. The upcoming Bitmain Antminer S19 XP, with 140 TH/s of hashpower, is projected to earn $58.20 daily, though it won't be available until July 2022. These margins are sufficient to incentivize continued investment in new rigs and infrastructure, especially among large-scale mining firms with access to cheap power.
The correlation between price and hashrate remains strong: as long as Bitcoin stays above $60,000, miners have strong economic motivation to add capacity. However, rising difficulty and potential energy price fluctuations could compress margins over time, and the network's self-adjusting mechanism ensures block times remain stable even as competition intensifies. The current trajectory suggests that Bitcoin's hashrate could break new all-time highs in the coming months, further cementing network security.