Bitcoin hashrate up 45% from summer lows but still below its October peak

what happened

CryptoQuant founder and CEO Ki Young Ju called the rising Bitcoin hashrate an indirect bullish signal from institutional investors backing several public miners. In his view, greater computing power means a more secure network and stronger fundamentals for Bitcoin as a store of value.

According to CryptoQuant data, network hashrate rose about 45% from summer lows, from roughly 726 EH/s in July to about 1,050 EH/s on Wednesday. It remains below the 1,305 EH/s peak reached in October 2025, when Bitcoin traded above $111,000.

Nasdaq-listed NIP Group announced on Tuesday a third tranche of an on-rack purchase agreement for about 4.47 EH/s of already deployed mining hardware. Once the deal closes, total hashrate across the three tranches is expected to reach 13.85 EH/s. NIP Group shares fell 6.8% on Wednesday to close at $6.10.

why it matters

For miners, rising hashrate means more competition for block rewards at the same revenue, so profitability depends heavily on the Bitcoin price, which traded near $81,843 as US markets opened on Thursday. A lower price compresses hashprice and margins, making electricity costs and access to cheap power decisive. Hotter-than-expected inflation data also hit TeraWulf, Core Scientific, Cipher Mining and IREN on Wednesday, with each losing about 12%.

market impact

Bitcoin miners: rising hashrate and a weaker price squeeze margins, pressuring the sector's stocks

tags

instruments