Bitcoin Miners Get a Lifeline as Hashprice Explodes 20% Higher

Bitcoin’s hashprice surged 20.41% over a four‑day period, lifting miner revenue to $38.29 per petahash‑second (PH/s). The rise follows a recent price rally that has improved profitability after a stretch of narrow margins.

Hashprice and Miner Revenue

On August 18 the hashprice was $31.80 / PH/s; by August 22 it reached $38.29 / PH/s. Hashprice reflects the revenue a miner can earn per unit of hashrate. At current levels, a Bitmain Antminer S23 Hydro 3U (1.16 PH/s) could generate roughly $17.86 in daily profit assuming electricity costs of $0.10 /kWh. The next most profitable model, Bitdeer’s Sealminer A4 Ultra Hydro (886 TH/s), would earn about $13.75 per day under the same electricity price.

Difficulty Outlook

Block times are slightly above the 10‑minute target (approximately 10 minutes 5 seconds). The upcoming difficulty adjustment on August 22 is projected to decrease by about one percentage point, which would further benefit miners.

Mining Pool Participation

Data shows 133 mining pools, ranging from large operations to solo miners, are active on the network. Foundry USA leads with 214.73 EH/s, followed by Antpool (156.17 EH/s) and F2Pool (110.62 EH/s). Total network hashrate is near 922 EH/s, approaching the 1 zettahash (ZH/s) threshold.

Revenue Comparison

According to newhedge.io, miners have earned $682.69 million in August from block subsidies and fees, of which $5.14 million came from transaction fees. This trails July’s $875 million total, leaving a gap to close before month‑end.

Market Context

Bitcoin has been in a bear market since falling from its October 2025 peak of just above $126,000. The recent price rally has eased pressure on mining economics, but the durability of this improvement remains uncertain.