Hashrate Index Roundup (September 29, 2025)

Hello world, happy Monday!

TLDR

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

Over the past week, miners collected a total of ~3,271 BTC in block rewards, equivalent to ~$364 million. Transaction fees constituted 0.65% of block rewards totalling 21 BTC, equivalent to ~$2.35 million.

Bitcoin

Bitcoin trended up throughout the past week, increasing by 1.68% from ~112,388 to a current price of ~$114,274. Year-to-date performance stands at +22.27%.

Hashprice

USD hashprice decreased by 5.62% from $53.77 per PH/s/Day to a current $50.75 per PH/s/Day.

BTC hashprice decreased by 0.02% from 0.00044489 BTC per PH/s/Day to 0.00044481 BTC per PH/s/Day.

Hashrate & Difficulty

Network hashrate was down by 2.95%, with the 7-day simple moving average (SMA) moving from 1,086 EH/s to 1,054 EH/s. The 30-day SMA currently stands at 1,040 EH/s.

The latest difficulty adjustment took place on September 18, increasing network difficulty by 4.89% to 142.34T.

Blocks were found at an average time of around 9 minutes 31 seconds over the past 24 hours.

We currently estimate an increase of ~5.07% for the upcoming adjustment, expected to occur on October 1.

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Transaction Fees

Over the past week, miners collected an average of 0.0210 BTC (per block per day) in transaction fees, compared to the prior week's 0.0242 BTC, a 13% decrease.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $47.25 or 0.00040 BTC over the next six months.

Bitcoin Mining Stocks

Bitcoin mining stock trends were flat throughout the past week, reflecting a 0.15% increase in our Bitcoin Mining Stock Index.

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

• BTDR: $16.25 (-2.99%) | Mkt Cap: $3.20B
• BITF: $2.54 (-17.53%) | Mkt Cap: $1.43B
• CIFR: $11.47 (-8.31%) | Mkt Cap: $4.51B
• CLSK: $12.96 (-2.11%) | Mkt Cap: $3.64B
• CORZ: $16.85 (+2.56%) | Mkt Cap: $5.15B
• HIVE: $3.52 (-3.56%) | Mkt Cap: $0.84B
• HUT: $33.16 (-7.04%) | Mkt Cap: $3.50B
• IREN: $41.86 (+1.14%) | Mkt Cap: $11.39B
• MARA: $16.13 (-8.77%) | Mkt Cap: $5.98B
• RIOT: $17.69 (+3.81%) | Mkt Cap: $6.54B
• WULF: $10.83 (-1.37%) | Mkt Cap: $4.44B
• FUFU: $3.65 (-5.19%) | Mkt Cap: $0.60B
• CAN: $0.79 (+5.33%) | Mkt Cap: $0.39B
• GREE: $1.69 (+0.60%) | Mkt Cap: $0.03B
• SLNH: $2.75 (+127.27%) | Mkt Cap: $0.12B

Have a great week, and Happy Hashing!

Footnotes

1. As of September 29, 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.