Bitcoin hashrate drops 145 EH/s to 885 EH/s

Bitcoin’s network computing power declined by about 145 exahash per second (EH/s) between May 28 and early June, falling from roughly 1,030 EH/s to about 885 EH/s.

Hashprice, the estimated daily revenue for 1 petahash per second (PH/s), stood at $28.26 on June 7, a 26.96% drop from $38.69 thirty days earlier. Lower bitcoin prices and reduced hashprice have cut miner revenue and prompted some operators to power down rigs that are no longer profitable.

Onchain transaction fees accounted for 0.73% of miner rewards over the past day by median average. Average block discovery times ran about 11 minutes and 12 seconds over the same period, above the protocol’s 10-minute target. The network’s difficulty has fallen in recent adjustments, and projections indicate a possible 10.76% difficulty decrease on June 13 following a prior 1.72% rise.

Rapha Zagury, chief executive of Elektron Energy, wrote on social media that the contraction is a market-driven process that has pushed hashrate roughly 25% below its September 2025 peak. He wrote that unprofitable machines are being retired and capital is being reallocated within the mining sector. Zagury noted the cost to mount a 51% attack remains very large.

Transaction fees now make up less than 1% of miner rewards, a smaller share than before the 2024 block subsidy halving. Industry observers say a larger fee market would be required to support miner revenue as block subsidies decline over time.

Some publicly traded mining companies have diversified into artificial intelligence infrastructure, while smaller, cost-focused operators are capturing a larger share of the remaining bitcoin mining rewards. The protocol’s difficulty adjustments reduce competition when hashpower exits, which can improve returns for rigs that remain online.

Short-term indicators for miners and market watchers include the upcoming difficulty adjustment, daily miner revenue, hashrate levels and transaction fees.