According to the Hashrate Index report, in Q2 2026, the global Bitcoin hash rate will drop to approximately 1,004 EH/s, a decline of about 5.8% compared to Q1, primarily due to the price of coins falling about 50% from the peak in 2025 and mining revenue reaching a historical low, forcing some old mining machines to shut down. The hash rate remains highly concentrated, with the United States (37.4%), Russia (16.9%), and China (12.0%) collectively accounting for about 65%; at the same time, emerging markets like Kyrgyzstan and Paraguay are growing against the trend supported by low-cost energy and new equipment. The current core driver of hash rate changes is still profitability, rather than policy or energy factors.