Industrial mining expansion leads to new hashrate peaks.
Hashrate surge coincides with difficulty drop.
U.S. miners hold a significant global share.

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Lede: Bitcoin's hashrate has reached an all-time high of 943 exahashes per second, following a 0.45% decrease in mining difficulty. This significant event highlights the ongoing scale of industrial mining operations worldwide, particularly in the United States.

Nut Graph: The hashrate milestone reinforces Bitcoin's network robustness and highlights industrial mining's scaling following the latest halving cycle.

The primary drivers behind Bitcoin's latest hashrate achievement are major industrial mining firms, mainly in the United States, which control about 36% of network hashrate. These companies continue investing in hardware and large-scale energy deals. Despite the increase in mining capacity, the network difficulty decreased by 0.45%, reflecting a typical adjustment to maintain the 10-minute block time target. The adjustment follows April's Bitcoin halving, impacting the share of block rewards for miners.

The record hashrate of 943 EH/s dropped to 926 EH/s after the difficulty adjustment. The hash price continues to fall, dropping by approximately 5% month-over-month to $53.39/PH/s-day, indicating a squeeze on miner margins. This pressures smaller miners and may impact publicly traded mining stocks and cash-flow management.

While there are no direct quotes from industry leaders regarding this milestone, the situation is being closely monitored by market participants, highlighting the significance of this achievement.

Historically, smaller miners often exit after halvings, leading to short-term hashrate declines. Larger, well-capitalized miners soon expand their operations. The network remains healthy, with average block times now at 9 minutes 58 seconds, just under the target.

The hashrate high may further deepen the mining economy shift, with regulatory or technological outcomes potentially influencing operations. The future could see larger miners prioritizing efficiency and technological upgrades to combat declining revenues, as shown by past trends.