On May 6, 2025, the bitcoin network hashrate remains at a level close to the all-time high of 1 zettahash per second (ZH/s) reached in April 2025, when the network first surpassed this milestone. According to CoinWarz, the average hashrate was 999.96 EH/s on May 3, which corresponds to the activity of about 8 million miners worldwide.
Since the 2024 halving, which reduced the block reward to 3.125 BTC, miners have faced rising #energy costs and restrictions on #ASIC hardware shipments from China to the US.
According to Glassnode, the Hash Ribbons metric signals the “capitulation” of unprofitable miners when some of them reduce activity. However, historically, such periods precede a price recovery, which may indicate the temporary nature of the current sell-off.
A 3.34% decrease in #mining difficulty to 119.12T in early May may provide temporary relief to miners. Bitcoin's price, hovering around $98,000 with resistance at that level, remains a key factor.
Glassnode analysts are predicting a possible rise to $100,000, which could alleviate pressure on #miners and reduce sell-offs. Major players such as American Bitcoin Corp continue to invest in #BTC infrastructure and reserves, showing confidence in the network's long-term potential.
