Bitcoin Hashrate and Mining Difficulty Reach Record Highs as Fees Plunge
Bitcoin hashrate surged to a record 350 exahashes per second, driven by new miner deployments and rising institutional demand. BlocksBridge reports that mining difficulty is set to adjust upward by 4.8% to 48.2 trillion on the next epoch, reflecting the network’s strengthened security. At the same time, on-chain transaction fees have sunk to an average of $1.18—down 55% year-on-year—due to reduced mempool congestion and lower trading volumes. Lower fees have improved user experience but compressed miner revenue per block. Overall, the network shows robust hash power growth and tougher competition, while fee income remains subdued.
Neutral
The simultaneous rise in Bitcoin hashrate and mining difficulty underscores growing network security and miner competition, typically a bullish technical sign. However, sharply lower transaction fees signal reduced on-chain activity and constrained miner revenue, which can weigh on market sentiment. Given these offsetting factors, the overall impact on crypto trading is neutral: traders should monitor mining profitability and on-chain volume for future directional cues.