Hashrate Index Roundup (May 4, 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 ~3,170 BTC in block rewards, equivalent to ~$246 million. Transaction fees constituted 0.65% of block rewards totalling 20 BTC, equivalent to ~$1.5 million.

Bitcoin

Bitcoin moved by +3.9% from ~$76,991 to a current price of ~$79,961. Year-to-date (YTD) performance stands at -8.5%.

Hashprice

USD hashprice moved +6.8% from $35.76 per PH/s/Day to a current $38.20 per PH/s/Day.

BTC hashprice moved +2.4% from 0.00046611 BTC per PH/s/Day to 0.00047709 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 — $93 per MWh
• 19-25 J/TH — $72 per MWh
• 25-38 J/TH — $49 per MWh

Hashrate & Difficulty

Network hashrate changed by +3.7%, with the 7-day simple moving average (SMA) moving from 923 EH/s to 957 EH/s. The 30-day SMA currently stands at 968 EH/s.

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

Block times have averaged around 10 minutes 6 seconds over the past 24 hours.

We currently estimate* -1.06% for the upcoming adjustment, expected to occur on May 16.

*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.

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At $38 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 0.0200 BTC per block per day in transaction fees, +12% compared to the prior week's 0.0179 BTC.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $36.63 or 0.00045 BTC over the next six months.

Bitcoin Mining Stocks

Bitcoin mining stock trends were mixed throughout the past week, reflecting a -4.8% 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 4, 2026 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.