Hashrate Index Roundup (May 25, 2026)

Hello world, happy Monday!

TLDR

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

Over the past week, miners collected a total of ~3,68 BTC in block rewards, equivalent to ~$243 million. Transaction fees constituted 0.56% of block rewards totalling 18 BTC, equivalent to ~$1.3 million.

Bitcoin

Bitcoin moved by +1.0% from ~$76,870 to a current price of ~$77,628. Year-to-date (YTD) performance stands at -11.2%.

Hashprice

USD hashprice moved +1.7% from $35.27 per PH/s/Day to a current $35.88 per PH/s/Day.

BTC hashprice moved +0.0% from 0.00046260 BTC per PH/s/Day to 0.00046273 BTC per PH/s/Day.

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 — $88 per MWh
• 19-25 J/TH — $68 per MWh
• 25-38 J/TH — $47 per MWh

Hashrate & Difficulty

Network hashrate changed by +2.2%, with the 7-day simple moving average (SMA) moving from 966 EH/s to 987 EH/s. The 30-day SMA currently stands at 979 EH/s.

The latest difficulty adjustment took place on May 15, changing network difficulty by +3.12% to 136.61T.

Block times have averaged around 10 minutes over the past 24 hours.

We currently estimate -0.16% for the upcoming adjustment, expected to occur on May 29.

Sponsored by Luxor Firmware

At $36 per PH/s/Day, hashprice is at or below 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 0.0174 BTC per block per day in transaction fees, -4% compared to the prior week's 0.0181 BTC.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $35.00 or 0.00045 BTC over the next six months.

Bitcoin Mining Stocks

Bitcoin mining stock trends were green throughout the past week, reflecting a +13.3% 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

1. As of May 25, 2026 UTC 17:00. 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.