Hashrate Index Roundup (May 26, 2025)

Hello world, happy Monday!

TLDR

A lot of green 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 ~3,264 BTC in block rewards, equivalent to ~$353 million. Transaction fees constituted 1.40% of block rewards totalling 46 BTC, equivalent to ~$4.94 million.

Bitcoin

Bitcoin trended up throughout the past week, increasing by 3.60% from ~105,707 to a current price of ~$109,5012 Year-to-date performance stands at +17.17%.

Hashprice

USD hashprice increased by 3.39% from $55.23 per PH/s/Day to a current $57.10 per PH/s/Day.

BTC hashprice decreased by 0.49% from 0.00052466 BTC per PH/s/Day to a current 0.00052209 per PH/s/Day.

Hashrate & Difficulty

Network hashrate rose by 4.89%, with the 7-day simple moving average (SMA) moving from 859EH/s to 901EH/s. The 30-day SMA currently stands at 887 EH/s.

The latest difficulty adjustment took place on May 17, increasing network difficulty by 2.13% to 121.66T.

Blocks were found at an average time of around 9 minutes 42 seconds over the past 24 hours.

We currently estimate an increase of ~3.04% for the upcoming adjustment, expected to occur on May 31.

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Transaction Fees

Over the past week, miners collected an average of 0.0420 BTC (per block, per day) in transaction fees compared to the prior week's 0.0516 BTC, a 19% decrease.

Looking Forward

For this week's Hashrate Forward Market update, the forward market is pricing in an average hashprice of $55.44 or 0.00050 BTC over the next six months.

Bitcoin Mining Stocks

Bitcoin mining stock trends were flat throughout the past week, reflecting a 0.18% decrease in our Bitcoin Mining Stock Index.

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

• BTDR: $14.46 (-2.30%) | Mkt Cap: $2.84B
• BITF: $1.05 (-5.41%) | Mkt Cap: $0.59B
• CIFR: $3.47 (-4.93%) | Mkt Cap: $1.29B
• CLSK: $9.36 (-0.32%) | Mkt Cap: $2.63B
• CORZ: $10.68 (+2.59%) | Mkt Cap: $3.18B
• HIVE: $1.96 (-2.49%) | Mkt Cap: $0.36B
• HUT: $16.65 (+1.34%) | Mkt Cap: $2.11B
• IREN: $9.12 (+11.36%) | Mkt Cap: $2.05B
• MARA: $14.73 (-6.30%) | Mkt Cap: $5.19B
• RIOT: $8.55 (-3.06%) | Mkt Cap: $3.05B
• WULF: $3.93 (+6.50%) | Mkt Cap: $1.51B
• FUFU: $3.68 (-0.27%) | Mkt Cap: $0.60B
• CAN: $0.63 (-17.11%) | Mkt Cap: $0.27B
• GREE: $1.59 (+43.24%) | Mkt Cap: $0.02B
• SLNH: $0.72 (-12.20%) | Mkt Cap: $0.03B

Have a great week, and Happy Hashing!

Footnotes

1. As at May 26, 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.