Hashrate Index Roundup (May 11, 2026)

Your weekly mining metrics.

Kaan Farahani

11 May 2026

Hello world, happy Monday!

TLDR

A green bag for this week's update: Bitcoin up, hashrate up, difficulty down, fees up; hashprice is up.

Over the past week, miners collected a total of ~3,172 BTC in block rewards, equivalent to ~$256 million. Transaction fees constituted 0.69% of block rewards totalling 22 BTC, equivalent to ~$1.8 million.

Despite a 1.05% drop in USD hashprice, network conditions improved this week. Hashrate rose 4.73% to a 7-day average of 930 EH/s, and miner rewards jumped 6.51% to 3,251 BTC amid rising fee income. Network difficulty eased slightly (−0.45%), while hardware pricing held steady with the S21XP at $25.70/TH. — Hashrate Index Weekly Mining Roundup | May 11, 2026

Bitcoin

Bitcoin moved by +1.1% from ~$80,870 to a current price of ~$81,725. Year-to-date (YTD) performance stands at -6.5%.

Hashprice

USD hashprice moved +2.3% from $38.15 per PH/s/Day to a current $39.04 per PH/s/Day.

able showing Bitcoin hashprice in USD per PH/s/day. Current spot hashprice is $51.76. The 24-hour previous value was $49.95, 7-day previous spot was $54.65, 7-day average is $52.26, and the 30-day average is $53.61. — USD Hashprice (USD per PH/s/day) | 1-month view (April 11, 2025 - May 11, 2026)

BTC hashprice moved -0.1% from 0.00047713 BTC per PH/s/Day to 0.00047666 BTC per PH/s/Day.

Table showing Bitcoin hashprice metrics in BTC/PH/s/day. The current spot hashprice is 0.000502 BTC. Compared to past values, the 24-hour change is +0.08%, 7-day spot change is +0.03%, and 7-day average hashprice is 0.000503 BTC. The 30-day average is higher at 0.000506 BTC, a decline versus current spot. — BTC Hashprice (BTC per PH/s/day) | 1-month view (April 11, 2025 - May 11, 2026)

Based on fleetwide efficiency, bitcoin mining operations are currently earning the following bitcoin mining (SHA-256) compute revenues per watt-hour:

Under 19 J/TH fleets — $95 per MWh
19-25 J/TH — $73 per MWh
25-38 J/TH — $50 per MWh

Hashrate & Difficulty

Network hashrate changed by +5.7%, with the 7-day simple moving average (SMA) moving from 957 EH/s to 1,012 EH/s. The 30-day SMA currently stands at 982 EH/s.

7-day line chart of Bitcoin network hashrate from June 116 to June 23, 2025, showing a fall from ~929 EH/s to 844 EH/s. Data reflects 7-day simple moving average (SMA), visualized in yellow. — Bitcoin Network Hashrate (7-day SMA) | 1-week view (May 4, 2026 - May 11, 2026)

The latest difficulty adjustment took place on May 1, changing network difficulty by -2.30% to 132.47T.

Block times have averaged around 9 minutes 32 seconds over the past 24 hours.

Table displaying Bitcoin network difficulty metrics. Current difficulty is 126.41T. The network is 65% through the current epoch with 1302 of 2,016 blocks mined. Average block time is 10 minutes 49 seconds. The next difficulty adjustment is estimated for June 29, 2025, with a projected decrease of -7.62%. — Bitcoin Network Metrics | May 11, 2026

We currently estimate +4.78% for the upcoming adjustment, expected to occur on May 15.

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Transaction Fees

Over the past week, miners collected an average of 0.0216 BTC per block per day in transaction fees, +9% compared to the prior week's 0.0199 BTC.

Table comparing Bitcoin transaction fee averages over 7, 14, and 30 days. The 7-day average is 0.0386 BTC, the 14-day average is 0.0344 BTC (up 12.27%), and the 30-day average is 0.0337 BTC (up 14.54%). — Bitcoin Transaction Fee Averages | 1-month view (April 11, 2025 - May 11, 2026)

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $36.21 or 0.00044 BTC over the next six months.

Luxor Hashrate Forward Curve chart comparing USD- and BTC-denominated forward prices per PH/s/day from July to December 2025. USD-denominated prices decline from $58 to $52, while BTC-denominated prices fall from 0.00054 to 0.00047 BTC, showing an 8–12% drop over the period. — Luxor Hashrate Forward Curve (May 2026 – October 2026) | May 11, 2026

Bitcoin Mining Stocks

Bitcoin mining stock trends were bright green throughout the past week, reflecting a +17.3% change in our Bitcoin Mining Stock Index.

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

Have a great week, and Happy Hashing!

Footnotes

As of May 11, 2026 UTC 21:00. Values are subject to change.
Luxor estimates the adjustment date using average block times and blocks remaining in the epoch. Values are subject to change.
Luxor estimates the difficulty adjustment using average block times. Values are subject to change.

Weekly Roundup Newsletter

Kaan Farahani Twitter

Research Associate at Luxor Technology

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