Bitcoin is up 40% this year as miners continue to scale.
Bitcoin network difficulty remains fixed at 127 R after its latest adjustment on May 31, however, the core hash rate is still under pressure to rise.
As of June 10, the seven-day average hash rate is approximately 901 EH/S, with several daily prints brushing against 920 EH/S. This indicates a continued mismatch between the two-week protocol rhythm and the speed at which new generation mining platforms come online.
Bitcoin mining difficulty from January 1 to June 11, 2025 (source: Cryptoquant)
Since the beginning of the year, network difficulty has increased by 15.7% while the hash rate has expanded nearly 40%, from around 651 EH/S in early January. The discrepancy reflects the lag in hardware embedded in Bitcoin's difficulty adjustment algorithm: miners have continued to increase capacity to raise the half. This has driven the average block intervals to less than 10 minutes, recently averaging 9 minutes and 42 seconds since the last readjustment.
Bitcoin hash rate from January 1 to June 11, 2025 (source: cryptoquant)
Hash rate is now hovering around $0.055 per day, marginally lower than 30 days ago. Despite the increasing network difficulty, this near-flat movement means that high transaction fees and sustainable BTC prices above $109,000 have helped maintain profitability.
Although mining margins are thinner than pre-halving levels, the sharp decline has not materialized from fear, reinforcing the idea that hash rate pressure has so far been absorbed by large operators with better cost structures.
Bitcoin hash rate index from March 11 to June 11, 2025 (source: Lucor HASHRATE index)
Nine difficulty adjustments at the eleventh difficulty level in 2025 resulted in upward revisions. Unless a large part of the hash rate exits the network before mid-June, it seems likely that another positive difficulty adjustment will push the network beyond the 130 ton threshold for the first time.
Post-Bitcoin is up 40% this year as miners emerge first in crypto.
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