Hashrate (EH/s)
Total estimated compute power securing the network, derived from mining difficulty.
Why it matters
It reflects miners' collective bet on future profitability — but it reacts to price with a lag (miners adjust capacity after their revenue changes, not before), so it reads as confirmation of a trend already underway, not a prediction of the next one.
Build it yourself
Difficulty converts to compute power through a single fixed formula.
Hashrate (EH/s) = difficulty × 2³² ÷ 600s ÷ 10¹⁸
Estimated hashrate
Illustrative example numbers for practice — not real data.
How it's calculated, step by step
- Each block's
difficultyis captured directly from the node itself (no extra call). - Estimated hashrate = difficulty × 2^32 ÷ 600 seconds — the standard conversion, since Bitcoin targets one block every 600 seconds on average.
- It's averaged per day and expressed in EH/s (exahashes per second, dividing by 10^18).
Lagging signal / confirmation.
A confirmation signal, not an anticipatory one — a peer-reviewed study (Journal of Risk and Financial Management, 2020, DOI 10.3390/jrfm13110263) found dominant Granger causality running from price to hashrate (with 1-to-6-week lags), not the other way around.
Chart
This is real Bitcoin data, computed from the blockchain — not the illustrative example above.
Data last updated on 2026-09-09.