Hashrate Index Roundup (April 21, 2025)

Hello world, happy Monday!

TLDR

A mix of green & red for this week's update: Bitcoin is up, hashrate is down, difficulty is up, fees are up; hashprice is up.

Over the past week, miners collected a total of ~4,138 BTC in block rewards, equivalent to ~$350 million. Transaction fees constituted 1.57% of block rewards totalling 51 BTC, equivalent to ~$4.30 million.

Bitcoin

Bitcoin trended up throughout the past week, increasing by 2.19% from ~$85,358 to a current price of ~$87,231. Year-to-date performance stands at -6.67%.

Hashprice

USD hashprice increased by 1.14% from $44.57 per PH/s/Day to a current $45.08 per PH/s/Day.

BTC hashprice decreased by 1.32% from 0.00052456 BTC per PH/s/Day to a current 0.00051765 per PH/s/Day.

Hashrate & Difficulty

Global network hashrate fell by 3.88%, with the 7-day simple moving average (SMA) moving from 902EH/s to 867EH/s. The 30-day SMA currently stands at 865 EH/s.

The latest difficulty adjustment took place over the weekend on April 19, increasing network difficulty by 1.42% to a new all-time high of 123.23T.

Blocks were found at an average time of around 10 minutes 52 seconds over the past 24 hours.

We currently estimate* a decrease of ~7.93% for the upcoming adjustment, expected to occur on April 19.

*This estimate should be taken with a grain of salt given that we are so early into a difficulty epoch. Early on, difficulty predictions are relatively shaky because of short-term variance. However, as time (or blocks) pass, the noise fades and the signal sharpens.

Sponsored by Luxor Firmware

At $46 per PH/s/Day, hashprice is close to – or at – breakeven for many miners depending on operating cost and machine model type. Improve the hashrate and efficiency of your S19 and S21 series rigs by downloading LuxOS firmware today!

Transaction Fees

Over the past week, miners collected an average of 0.0426 BTC (per block, per day) in transaction fees compared to the prior week's 0.0411 BTC, a 4% increase.

Our transaction fee projection models remain relatively bearish. For this week, the ARMA estimates 0.06 BTC per block per day and the VAR model forecasts 0.10 BTC per block per day.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $46.38 or 0.00052 BTC over the next six months.

Bitcoin Mining News

Here are the latest top headlines for Bitcoin mining news:

• HIVE Digital Technologies Announces 100% Completion of First 100 MW Infrastructure in Paraguay

• US tariffs set off rush to get Bitcoin mining gear from Asia

Bitcoin Mining Stocks

Bitcoin mining stock trends were down throughout the past week, reflecting a 1.73% decrease in our Bitcoin Mining Stock Index.

5-day changes to Bitcoin mining stocks as of last week's market close:

• BTDR: $7.62 (-9.07%) | Mkt Cap: $1.52B
• BITF: $0.84 (+3.70%) | Mkt Cap: $0.46B
• CIFR: $2.37 (-5.95%) | Mkt Cap: $0.85B
• CLSK: $7.51 (-3.84%) | Mkt Cap: $2.15B
• CORZ: $6.63 (-10.65%) | Mkt Cap: $1.94B
• HIVE: $1.49 (-3.25%) | Mkt Cap: $0.26B
• HUT: $11.19 (-12.24%) | Mkt Cap: $1.16B
• IREN: $5.59 (-5.09%) | Mkt Cap: $1.26B
• MARA: $12.66 (-1.86%) | Mkt Cap: $4.42B
• RIOT: $6.46 (-11.99%) | Mkt Cap: $2.30B
• WULF: $2.35 (-5.24%) | Mkt Cap: $0.90B
• FUFU: $4.32 (-2.48%) | Mkt Cap: $0.71B
• CAN: $0.70 (-1.41%) | Mkt Cap: $0.27B
• GREE: $0.66 (+1.54%) | Mkt Cap: $0.01B
• SLNH: $0.62 (+6.90%) | Mkt Cap: $0.02B

Have a great week, and Happy Hashing!

Footnotes

1. As at April 21, 2025 UTC 21:00. Values are subject to change.
2. Luxor estimates the adjustment date using average block times and blocks remaining in the epoch. Values are subject to change.
3. Luxor estimates the difficulty adjustment using average block times. Values are subject to change.