Bitcoin Hash Rate Hits a Record 946 EH/s as Miner Profits Continue to Shrink

On June 14, Bitcoin’s hash rate reached a new milestone, hitting a peak of 946 exahashes per second (EH/s) based on the seven-day simple moving average (SMA). The previous all-time high (ATH) was recorded on May 31, when the network hash rate reached 943 EH/s. As of 8:00 a.m. Eastern Time on Saturday, the hash rate stood at 944.84 EH/s. Meanwhile, mining revenue has declined compared to levels 30 days ago, with the hash price dropping from $55.53 per petahash per second (PH/s) per day on May 14 to the current $52.92 per PH/s per day. Over the past 24 hours, miners have earned an average of 3.17 bitcoins from block subsidies and transaction fees, with transaction fees accounting for only 1.32% of total revenue.