Hashrate Index Roundup (September 15, 2025)

Hello world, happy Monday!

TLDR

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

Over the past week, miners collected a total of ~3,344 BTC in block rewards, equivalent to ~$382 million. Transaction fees constituted 0.82% of block rewards totalling 29 BTC, equivalent to ~$3.30 million.

Bitcoin

Bitcoin trended slightly up throughout the past week, increasing by 3.35% from ~111,718 to a current price of ~$115,465. Year-to-date performance stands at +23.52%.

Hashprice

USD hashprice increased by 3.07% from $52.15 per PH/s/Day to a current $53.75 per PH/s/Day.

BTC hashprice increased by 0.14% from 0.00046575 BTC per PH/s/Day to 0.00046640 BTC per PH/s/Day.

Hashrate & Difficulty

Network hashrate was up by 4.96%, with the 7-day simple moving average (SMA) moving from 988 EH/s to 1,037 EH/s. The 30-day SMA currently stands at 992 EH/s.

The latest difficulty adjustment took place on September 4, increasing network difficulty by 4.89% to 136.04T.

Blocks were found at an average time of around 9 minutes 28 seconds over the past 24 hours.

We currently estimate an increase of ~4.81% for the upcoming adjustment, expected to occur on September 18.

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Transaction Fees

Over the past week, miners collected an average of 0.0282 BTC (per block per day) in transaction fees, compared to the prior week's 0.0318 BTC, an 11% decrease.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $49.21 or 0.00042 BTC over the next six months.

Bitcoin Mining Stocks

Bitcoin mining stock trends were up bigly throughout the past week, reflecting a 24.37% increase in our Bitcoin Mining Stock Index.

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

• BTDR: $16.15 (+30.77%) | Mkt Cap: $3.18B
• BITF: $2.23 (+72.87%) | Mkt Cap: $1.25B
• CIFR: $10.85 (+46.82%) | Mkt Cap: $4.27B
• CLSK: $10.35 (+11.77%) | Mkt Cap: $2.91B
• CORZ: $15.86 (+16.62%) | Mkt Cap: $4.84B
• HIVE: $3.81 (+42.16%) | Mkt Cap: $0.88B
• HUT: $32.44 (+27.27%) | Mkt Cap: $3.42B
• IREN: $26.15 (+2.19%) | Mkt Cap: $7.12B
• MARA: $16.31 (+7.30%) | Mkt Cap: $6.04B
• RIOT: $15.89 (+19.56%) | Mkt Cap: $5.87B
• WULF: $10.76 (+17.98%) | Mkt Cap: $4.39B
• FUFU: $4.23 (+16.21%) | Mkt Cap: $0.69B
• CAN: $0.82 (+15.49%) | Mkt Cap: $0.40B
• GREE: $1.50 (+26.05%) | Mkt Cap: $0.02B
• SLNH: $0.72 (+50.00%) | Mkt Cap: $0.04B

Have a great week, and Happy Hashing!

Footnotes

1. As of September 8, 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.