Hashrate Approaches Record High as Bitcoin Price Drives Mining Gains

CN
11 hours ago

On Tuesday, March 25, 2025, bitcoin miners saw improved earnings compared to the previous week. On March 18, the estimated value of one petahash per day stood at $46.21; today, it has risen to $49.57, according to statistics collected by hashrateindex.com.

Hashrate Approaches Record High as Bitcoin Price Drives Mining Gains

Bitcoin hashprice, hashrate, and average 24-hour block rewards via hashrateindex.com on March 25, 2025.

This uptick has provided a modest relief for miners, who had been experiencing tighter margins during the initial three weeks of March. Data from mempool.space indicates a pickup in network activity, with 48,116 unconfirmed transactions sitting in the mempool as of 6:30 p.m. Eastern Time on Tuesday.

Hashrate Approaches Record High as Bitcoin Price Drives Mining Gains

At present, the mempool has around 48,116 unconfirmed transactions waiting for confirmation. Source: mempool.space.

Transaction fees have inched up as well. At the current rate of 31 satoshis per virtual byte (sat/vB), a high-priority transfer now carries a cost of $3.83. The recent climb in BTC’s price is the primary driver behind the revenue boost, as transaction fees have only accounted for 2.14% of total earnings over the past 24 hours.

Hashrate Approaches Record High as Bitcoin Price Drives Mining Gains

Bitcoin fees have increased in recent times. Source: mempool.space.

The latest price movement has also pushed the hashrate higher, with the network gaining 40 EH/s—rising from 796 EH/s on March 20 to 836 EH/s today. This upward trend coincides with a 1.43% difficulty adjustment that took place two days ago at block height 889,056.

Currently, mining difficulty is set at 113.76 trillion, slightly below the all-time high of 114.17 trillion recorded six weeks earlier at block height 883,008. The current shift in network dynamics suggests a recalibration period for miners, balancing operational costs against earnings as difficulty and price fluctuate.

Hashrate Approaches Record High as Bitcoin Price Drives Mining Gains

Bitcoin’s computational power (seven-day simple moving average) via hashrateindex.com on March 25, 2025.

With transaction fees still playing a minor role in revenue, miner profitability appears increasingly tethered to BTC’s market value. As the protocol inches toward historical thresholds, participants may need to adapt strategies to navigate tightening margins and evolving network conditions.

On the other hand, advances in application-specific integrated circuit (ASIC) hardware may also be contributing to the increase in computational output. Empirical analysis reveals that fluctuations in bitcoin’s fiat valuation precipitate corresponding adaptations in network hashrate, manifesting after a temporal delay spanning one to six weeks—a rhythm dictated by miners calibrating operations to align with evolving profit incentives.

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