Bitcoin revenue per terahash nears record lows as hashrate soars

Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new highs. 

Over the past week, Bitcoin network hash rate topped 414 exahashes per second (EH/s) on Aug. 18 marking a new peak for the metric.

The peak has seen network hash rate surging 54% from what it was at the beginning of 2023 and 80% over the past 12 months, according to Blockchain.com.