Bitcoin’s Hashrate Takes a Breather: Is This the Crypto Apocalypse? 😱

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Four days ago, Bitcoin‘s hashrate hit an all-time high of 976 exahash per second (EH/s). Big whoop. Now it’s chilling in the 900 EH/s range like some slacker on a Sunday. What happened? Did everyone just decide to take a nap? 🛌

Mining Metrics Are Giving Us Whiplash as Block Times Stretch to 11:04

On August 8th, 2025-yes, we’re living in the future now-the network’s computing power reached a whopping 976 EH/s. But today? It’s down 76 EH/s, sitting near 900 EH/s, thanks to a 1.42% difficulty increase. You’d think these miners would have seen this coming. I mean, they’re supposed to be geniuses, right? 🤔 Oh, and guess what? The estimated revenue for 1 petahash per second (PH/s) is actually higher. Go figure.

Bitcoin total hashrate using the seven-day SMA and one-year timeframe via hashrateindex.com stats. Looks like someone drew a rollercoaster with numbers. 🎢

Back then, the estimated hashprice was $57.30 per PH/s. Today, it’s climbed to $58.76-a modest 2.55% bump. Yesterday, when BTC flirted with $120,000, the hashprice even hit $59.78. Impressive, sure, but let’s not throw a parade yet. It’s still 4.72% below its July 14 peak of $61.67. So basically, we’re celebrating crumbs here. 🍞

Bitcoin hashprice over the last 30 days via hashrateindex.com. If you squint, it kinda looks like my EKG after reading this report. 📉

Now, with the hashrate taking a nosedive, block intervals are dragging their feet worse than me on laundry day. As of 1:20 p.m. Eastern on Tuesday, blocks are averaging 11 minutes and 4 seconds. That’s slower than my Wi-Fi during peak hours. This sluggishness could lead to a downward adjustment in mining difficulty by August 24th-a potential 9.64% cut. Will that bring sidelined rigs back online? Or will they stay benched like me at family basketball games? 🏀

If prices keep climbing, maybe those sidelined machines will crawl out of retirement. But if things go south, expect more consolidation among operators. Meanwhile, the top five mining pools-Foundry, Antpool, Viabtc, F2pool, and Spider Pool-are hogging 78.39% of the total hashrate. Talk about monopolizing the fun! 🎯

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2025-08-12 21:58