9 May, 2025
Bitcoin Hash Rate Reaches New High, Miners Ride Price Wave
With Bitcoin climbing to levels not seen since early February, the network’s raw processing power surged to a record 929 exahash per second (EH/s), a power figure that shows how fiercely miners are competing to add the next block.
Miners Power Up: Bitcoin Network Hits Record 929 EH/s
Bitcoin’s hash rate rose by roughly 3 EH/s, surpassing the peak of 926 EH/s recorded on Tuesday, April 8, 2025, showing a steady upward trend rather than a single-day sharp change. On Friday, May 9, 2025, the statistic briefly touched 929 EH/s before settling at 924.78 EH/s around 10 a.m. Eastern Time, showing the near-constant operation of machines around the world.
As bitcoin’s price rises, miners are seeing margins thicken, reversing the contraction that preceded this surge. The hash price — the spot valuation of one petahash per second (PH/s) of computing power per day — jumped 37.83%, from $40.04 to $55.18 per petahash in just a few weeks.
They also got a reprieve on May 3, when the mining difficulty dropped by 3.34%, slashing the raw effort required to discover a block. Since that recalibration, blocks have been produced at a brisk rate of every 9 minutes and 33 seconds, faster than the 10-minute target — a pace that could lead to another difficulty hike on May 17, 2025. Of course, hash power rises and falls, so the final adjustment in the coming week remains uncertain.
If recent increases in computing power and miner revenues are any indication, the arms race to protect bitcoin may be entering a new phase of capital allocation and hardware optimization. The coming difficult turn will test whether operators can maintain their current momentum, or whether higher standards for networks will prompt a new round of innovation, consolidation, and operational discipline among the global competition pool.
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