Bitcoin's hashprice climbed 20.41% over a four-day period, reaching levels not seen since May. The recent price rally has increased daily miner revenue, offering a reprieve after months of tighter operating margins following the bear market.
Revenue and Hashprice Metrics
Hashprice measures the revenue a bitcoin miner can generate from a specific amount of hashrate per petahash. The daily rate rose from $31.80 per petahash per second (PH/s) on August 18 to $38.29 PH/s on Saturday, August 22.
Data from Newhedge.io indicates that Bitcoin miners earned $682.69 million in August as of the report, trailing July's total haul of $875 million with a week left in the month. Of the August total, $5.14 million came from transaction fees, while the remainder came from block subsidies and fees.
Hardware Profitability and Difficulty
Top mining hardware is benefiting from the shift. At current hashprice values and an assumed electricity cost of $0.10 per kilowatt-hour (kWh), a Bitmain Antminer S23 Hydro 3U producing 1.16 PH/s generates an estimated $17.86 in daily profit. Bitbreed's Sealminer A4 Ultra Hydro follows with 886 TH/s, yielding roughly $13.75 per day under the same conditions. ASICs from other manufacturers such as MicroBT and Canaan are also maintaining steady profits.
Meanwhile, block times are running slightly above the 10-minute average at 10 minutes and 5 seconds. Projections indicate that the scheduled difficulty adjustment will drop by about one percentage point, further favoring miners.
Mining Pools and Network Participation
A total of 133 major, midsized, and small mining pools are contributing hashrate to the Bitcoin network. Total computational power sits near 922 EH/s, bringing the network closer to the one zettahash range.
Foundry USA leads all mining pools with 214.73 EH/s directed at the blockchain, followed by Antpool at 156.17 EH/s and F2pool at 110.62 EH/s. ViaBTC ranks fourth with 91.02 EH/s, while Secpool and Spiderpool share fifth place with approximately 65.07 EH/s each. The remaining hashrate is distributed among operations including MARA Pool, Luxor, Binance Pool, and Cloverpool.
