Bitcoin Hashrate Declines by More Than 30% Since Halving

Krutika Adani

Hashrate Trends

The Bitcoin hash rate has been in a net decline since the Bitcoin halving event, which was at 751 exa hashes per second (EH/s).

Declined After Bitcoin Halving

Since the halving, the hash rate has declined to 556 EH/s because the new Bitcoin blocks only allow half the reward.

Why Is the Hashrate Low?

Since Bitcoin’s price has not improved much, miners have less incentive to continue mining Bitcoin at reduced profits.

Will It Increase Again?

As Bitcoin’s price increases in the future, miners might return, increasing the hash rate.

Why Hashrate Matters in Bitcoin

Hash rate is critical for Bitcoin, as its security depends on it. A reduced hash rate means it requires less processing power to overtake Bitcoin’s blockchain.