Hashrate Index Roundup (April 14, 2025)

Hello world, happy Monday!

TLDR

A lot of green for this week's update: Bitcoin is up, hashrate and difficulty are stable, fees are up; hashprice is up.

Over the past week, miners collected a total of ~4,258 BTC in block rewards, equivalent to ~$346 million. Transaction fees constituted 1.52% of block rewards totalling 51 BTC, equivalent to ~$4.16 million.

Bitcoin

Bitcoin trended up throughout the past week, increasing by 9.42% from ~$77,555 to a current price of ~$84,851. Year-to-date performance stands at -9.21%.

Hashprice

USD hashprice trended up, increasing by 7.46% from $41.28 per PH/s/Day to a current $44.36 per PH/s/Day.

BTC hashprice was stable, increasing by 0.06% from 0.00052415 BTC per PH/s/Day to a current 0.00052446 per PH/s/Day.

Hashrate & Difficulty

Global network hashrate oscillated, with the 7-day simple moving average (SMA) moving from 910EH/s to 902EH/s. The 30-day SMA currently stands at 865 EH/s.

The latest difficulty adjustment took place over the weekend on April 5, increasing network difficulty by 6.81% to 121.521T.

Blocks were found at an average time of around 9 minutes 50 seconds over the past 24 hours.

We currently estimate an increase of ~1.69% for the upcoming adjustment, expected to occur on April 19.

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Transaction Fees

Over the past week, Bitcoin miners collected an average of 0.0423 BTC (per block, per day) in transaction fees compared to the prior week's 0.0326 BTC, a 30% increase.

Our transaction fee projection models remain relatively bearish. For this week, the ARMA estimates 0.06 BTC per block per day and the VAR model forecasts 0.07 BTC per block per day.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $43.86 or 0.00051 BTC over the next six months.

Bitcoin Mining News

Here are the latest top headlines for Bitcoin mining news:

• Bit Digital Secures Québec Site for HPC Backing Cerebras Deal
• Bitcoin miners front run Trump tariffs with $3M chartered flights

• Bitcoin Mining Stocks Rebound After Trump Pauses Tariff Plans

Bitcoin Mining Stocks

Bitcoin mining stock trends were up throughout the past week, reflecting a 13.10% increase in our Bitcoin Mining Stock Index.

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

• BTDR: $7.95 (+8.90%) | Mkt Cap: $1.50B
• BITF: $0.80 (+14.29%) | Mkt Cap: $0.34B
• CIFR: $2.42 (+28.04%) | Mkt Cap: $0.87B
• CLSK: $7.50 (+14.68%) | Mkt Cap: $2.18B
• CORZ: $7.07 (+6.00%) | Mkt Cap: $2.10B
• HIVE: $1.48 (+13.85%) | Mkt Cap: $0.24B
• HUT: $12.16 (+20.04%) | Mkt Cap: $1.25B
• IREN: $5.63 (+7.44%) | Mkt Cap: $1.28B
• MARA: $12.51 (+23.62%) | Mkt Cap: $4.44B
• RIOT: $7.06 (+8.62%) | Mkt Cap: $2.43B
• WULF: $2.38 (+3.93%) | Mkt Cap: $0.91B
• FUFU: $4.38 (+8.68%) | Mkt Cap: $0.74B
• CAN: $0.67 (-2.90%) | Mkt Cap: $0.29B
• GREE: $0.65 (+8.33%) | Mkt Cap: $0.01B
• SLNH: $0.55 (+37.50%) | Mkt Cap: $0.02B

Have a great week, and Happy Hashing!

Footnotes

1. As at April 14, 2025 UTC 18:00. 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.