Bitcoin Hashrate Holds Above 1,000 EH/s: What Do Miners Know?

Bitcoin hashrate is holding above 1,000 exahashes per second, and that quiet strength may say more about miner confidence than any price chart this week.

Data from mempool.space shows the network’s three-day average hashrate near 1,035 EH/s on November 4, 2026.

Mining difficulty sits at about 148.36 trillion after back-to-back increases, while BTC trades near $80,350 according to CoinGecko.

So why are miners still plugging in machines while Bitcoin sits well below its all-time high?

What Is the Bitcoin Hashrate Showing Right Now?

Hashrate measures the total computing power securing the Bitcoin network. The higher it goes, the more expensive it becomes to attack the chain.

According to mempool.space, the average hashrate has climbed from about 880 EH/s in early August to roughly 1,034 EH/s now.

That is an increase of around 17% in three months, during a period when Bitcoin’s price was mostly consolidating.

We believe that divergence is meaningful. Miners make long-term capital decisions, and they are clearly still betting on the network’s future.

Daily hashrate readings can swing sharply because they are estimated from how quickly blocks are found. That is why we focus on multi-day averages and difficulty, which smooth out the noise.

On both measures, the trend since the summer has been firmly higher.

How Has Mining Difficulty Changed?

Difficulty adjusts roughly every 2,016 blocks to keep block times close to 10 minutes. It is one of the cleanest ways to track sustained hashrate growth.

Mempool.space data shows difficulty rose about 5.9% at the October 16 adjustment, from roughly 132.72 trillion to 140.58 trillion.

It then climbed another 5.5% on October 29 to about 148.36 trillion.

Taken together, that is an increase of nearly 12% in about a month.

The current level is only about 2.6% below the record of roughly 152.27 trillion set in November 2025.

Is a Difficulty Drop Coming?

The next retarget is estimated at block 975,744, with mempool.space currently projecting a decrease of about 1.7%.

At the current pace, that adjustment is expected around November 13, Israel time, with roughly 1,150 blocks still to be mined.

A small dip like this is normal after two strong increases. It simply means blocks have been arriving slightly slower than the 10-minute target since the last change.

For miners, a modest drop would also be welcome. Lower difficulty means each machine earns a slightly larger share of block rewards.

Who Is Securing the Network?

Mining remains spread across several large pools.

Over the past week, Foundry USA found about 25.4% of blocks, AntPool around 19.8% and F2Pool roughly 17.1%, according to mempool.space pool statistics.

ViaBTC contributed about 10.1%, while SpiderPool and MARA Pool each mined around 5.2%.

No single pool controls anywhere near a majority, which is a healthy sign for Bitcoin’s decentralization and censorship resistance.

It is also worth remembering that pools coordinate work rather than own it. The individual miners pointing machines at each pool can switch to a competitor if a pool misbehaves.

That flexibility adds another layer of protection for the network.

Why Does a Strong Bitcoin Hashrate Matter for Price?

Hashrate does not move price directly, but it reflects the confidence of the industry’s most committed participants.

Miners spend heavily on hardware, power contracts and facilities months or years in advance. That spending only makes sense if they expect Bitcoin to remain valuable over the long run.

Since the April 2024 halving, the subsidy per block has been 3.125 BTC. That works out to roughly 450 new coins per day.

When miners keep expanding despite that reduced reward, it signals they see a path to higher prices.

A higher hashrate also raises the cost of attacking the chain. Anyone trying to rewrite recent blocks would need to command a huge share of more than 1,000 EH/s of computing power, an enormous and expensive undertaking.

For large investors, that security budget is a core part of the case for holding Bitcoin as a long-term store of value.

It also helps that demand from large holders remains firm. Our latest look at Strategy’s Bitcoin treasury showed the company adding another 811 BTC last week.

Meanwhile, our Bitcoin ETF flow update found outflows slowing sharply on November 3.

With miners producing only around 450 new coins per day, steady institutional demand can absorb new supply quickly.

What Should Bitcoin Investors Watch Next?

We would keep an eye on a few signals in the coming weeks:

• The November 13 retarget: a smaller-than-expected drop would confirm that hashrate is holding firm.
• Hashrate trend: a sustained push above recent highs would show miners are still expanding capacity.
• Price versus cost: a move back toward the top of Bitcoin’s recent range would improve miner margins and could fuel further investment.
• Pool distribution: continued balance among the largest pools supports the network’s resilience.

Looking further ahead, the next halving is due at block 1,050,000. With the chain at height 974,594, that is about 75,400 blocks away, or roughly April 2028 at the 10-minute target pace.

Miners building capacity now are positioning for that event too.

We believe a network running at more than 1,000 EH/s, with difficulty near record levels, is one of the strongest foundations Bitcoin has ever had.

The coming days will reveal whether price catches up with the confidence miners are already showing on-chain.