Bitcoin Hashrate Reaches New Highs
Bitcoin network hashrate continues to climb, first reaching an all-time milestone of 900 EH/s on April 6, 2025. Subsequently, this figure further broke through 1 ZH/s (i.e., 1000 EH/s) in March 2026. As of October 9, 2026, the Bitcoin network hashrate has reached approximately 1.05 ZH/s, once again setting a new historical record. The continuous growth in hashrate reflects the active investment and intensifying competition in the mining industry, accompanied by a steady increase in mining difficulty, which currently stands at approximately 132.72 T.
Halving Effect and Industry Consolidation
The 2024 Bitcoin halving event had a profound impact on the mining landscape, accelerating a structural transformation of the industry. After the halving, Bitcoin's price doubled from approximately $53,000 to over $109,000, but the reduction in mining rewards still demanded higher operational efficiency. This led to a wave of consolidation within the industry, with some smaller miners exiting the market due to unbearable cost pressures, while larger mining companies expanded through mergers and acquisitions and actively sought stable power supplies to cope with increasingly fierce competition.
From "Mining" to "Hashrate Bank" Transformation
Facing evolving macroeconomic environments and technological advancements, Bitcoin mining companies are accelerating business diversification, transitioning from traditional "mining" models to broader digital infrastructure services. This new model is vividly termed "Hashrate Bank," with its core being the integration of Bitcoin mining with artificial intelligence (AI), high-performance computing (HPC), and data center development. Mining companies are no longer merely producers of Bitcoin but are leveraging their vast computing infrastructure to provide services for high-hashrate demand scenarios such as AI training and scientific research. In 2025, transaction flows in the mining industry clearly focused on balance sheet optimization, asset consolidation, and the construction of computing-related infrastructure, rather than solely on mining expansion.
Energy Strategy and Sustainable Development
Sustainability has become a critical component in the transformation of the Bitcoin mining industry. Currently, over 55% of Bitcoin mining activities are powered by renewable energy, which not only enhances miners' ESG (Environmental, Social, and Governance) image but also aligns with the global demand for clean energy. The demand for high-quality mining farms driven by low-cost, renewable energy is increasingly fierce, making mining farms with stable and environmentally friendly power resources scarce and more valuable. This shift in energy strategy also provides a more stable operational foundation for mining companies.
Major Mining Companies and Market Landscape
In the current market landscape, major mining companies such as Marathon Digital Holdings, Core Scientific, CleanSpark Inc., Riot Platforms Inc., Iris Energy Ltd., Bitdeer Technologies Group, TeraWulf Inc., Cipher Mining Inc., and Hut 8 Mining Corp are actively exploring and leading the industry transformation. Meanwhile, mining pools like Foundry USA and MARA Pool dominate the Bitcoin hashrate market. Investment banks are also providing funding support for miners' extended operational cycles and AI/HPC infrastructure construction through convertible bonds, secured debt, and equity financing. The industry generally believes that mining is evolving towards a hybrid model of "computing power + energy + financial assets," with institutional investors viewing mining as a strategic investment to reshape digital and physical infrastructure.
Bitcoin Trading Channels
Bitcoin, as the cryptocurrency with the largest market capitalization, can be traded on numerous major global trading platforms. Users can buy and trade on centralized exchanges such as Binance, Gate, MEXC, CoinW, DigiFinex, or through platforms like BTCC and Pionex. When choosing a trading platform, always verify its compliance and security, and adhere to local regulations.
The platform information listed in this article is subject to change based on the listing and delisting dynamics of each exchange. Please refer to official exchange announcements for the latest information.
