The computing power used by Bitcoin miners has reached extraordinary levels, peaking at a staggering 900 quintillion hashes every second on April 6th.
900 EH/s Milestone: Bitcoin’s Security Fortress Grows Stronger
Merely a day earlier, at block 891,072, the network’s difficulty adjusted upward from 113.76 trillion to 121.51 trillion—a striking 6.81% leap. Conventional wisdom suggests that as difficulty climbs, mining becomes more arduous, often driving computational power down as participants exit.
Yet, defying expectations, the hashrate not only held firm but accelerated further. After brushing against a lofty 883 EH/s on April 5, it vaulted to 900 EH/s the very next day. This translates to an additional 17,000 petahash per second (PH/s), or 17 EH/s, being woven into the network in just one day.
Before the difficulty adjustment, the spot hashprice—the projected earnings for 1 PH/s—hovered at $46.67 on April 5. Now, it has settled at $43.27 per PH/s, reflecting the shifting economics of mining. Additionally, block intervals were a lot faster than the 10-minute average, which led to the difficulty hike.
The current reality tells a different story. As of 9 a.m. on April 6, the hashrate has dipped to 889.62 EH/s, accompanied by sluggish block times—averaging a sluggish 11 minutes and 39 seconds, per hashrateindex.com. Transaction fees remain negligible, with high-priority transfers clearing for just 1 sat/vB (a mere $0.12). Meanwhile, a modest queue of 2,686 unconfirmed transactions lingers in the mempool.
The network’s latest performance reveals a mining sector that bends but doesn’t break, recalibrating with shrewd precision. Nuanced fluctuations in key metrics signal shifting tides that could reshape profitability and the tactical roadmaps of miners.
A fine balance between computer power demand and availability drives an intense, high-risk game of incentives, where creativity and determination continuously improve productivity in a highly competitive environment teeming with possibilities.
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2025-04-06 20:58