Guys, Bitcoin is doing something a little counterintuitive.
Big miners have moved into AI, and publicly traded companies’ computing power is down 23%. You’d think the network would be weaker as a result.
But what happened? Bitcoin’s 7-day average hashrate surged back to 1 ZH/s—that’s 1,000 EH/s—the highest in seven months. The last time it was this high was March 3.
In other words, the big players pulled out, smaller miners plugged in secondhand rigs, and the network didn’t shrink—it became even more distributed.
But don’t just watch the spectacle: things are getting tougher for miners. Difficulty rose 5.92% on October 16, and it’s projected to rise another 5.16% next time. That’s about 11.4% across two adjustments, meaning each machine will earn fewer coins.
Bitcoin closed at $81,071 yesterday, after trading between $80,562 and $81,895. Hashrate hit a new high, while the price continues to hover around $81,000.
The bullish scenario: smaller miners keep stepping in, hashrate holds up, and the network’s fundamentals grow stronger. The bearish scenario: difficulty rises again, high-cost miners can’t take the pressure and shut down, and hashrate falls.
Hashrate is the substance; price is the surface. Do you think the substance has strengthened this time—and when will the surface catch up?
$BTC #BitcoinHashrateHitsSevenMonthHigh #Bitcoin
Big miners have moved into AI, and publicly traded companies’ computing power is down 23%. You’d think the network would be weaker as a result.
But what happened? Bitcoin’s 7-day average hashrate surged back to 1 ZH/s—that’s 1,000 EH/s—the highest in seven months. The last time it was this high was March 3.
In other words, the big players pulled out, smaller miners plugged in secondhand rigs, and the network didn’t shrink—it became even more distributed.
But don’t just watch the spectacle: things are getting tougher for miners. Difficulty rose 5.92% on October 16, and it’s projected to rise another 5.16% next time. That’s about 11.4% across two adjustments, meaning each machine will earn fewer coins.
Bitcoin closed at $81,071 yesterday, after trading between $80,562 and $81,895. Hashrate hit a new high, while the price continues to hover around $81,000.
The bullish scenario: smaller miners keep stepping in, hashrate holds up, and the network’s fundamentals grow stronger. The bearish scenario: difficulty rises again, high-cost miners can’t take the pressure and shut down, and hashrate falls.
Hashrate is the substance; price is the surface. Do you think the substance has strengthened this time—and when will the surface catch up?
$BTC #BitcoinHashrateHitsSevenMonthHigh #Bitcoin