Bitcoin’s (BTC) hashrate, the computational energy needed to mine a block in a proof-of-work blockchain, is on track to reach 1 zettahash per second before the next halving event in about 3.5 years, putting miners under pressure to secure cheap power deals and more efficient equipment.
The average hashrate could reach that level, equivalent to 1,000 exahash per second (EH/s), by 2027 even if it rises at the rather sedate pace of 20% a year. It’s grown an average of 65% a year since 2020 and is currently around 787 EH/s on a seven-day moving average basis, according to Glassnode data.
The hashrate is an important component of bitcoin miners’ profitability. The higher the hashrate, the higher the energy costs, which is why it’s so important for miners to optimize their business operations. It also plays into network security, which has appreciated 56% in the past year.
The pace of growth accelerated in the second half of 2024 after April’s halving, when the block rewards dropped 50% to
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