Bitcoin Hashprice Jumps 20% in Four Days to Near-Record Levels

The Bitcoin network's hashprice has surged by more than 20% in just four days to $38.29 per PH/s, according to recent data.

This significant increase in profitability for miners comes as the total hashrate of the Bitcoin network climbed to approximately 922 EH/s on August 22, nearing the 1 ZH/s milestone and intensifying competition among mining operators.

In addition to this spike in hashprice, Bitcoin miners have been earning substantial revenue from block rewards and transaction fees. As of August 22, they had collectively raked in $682.69 million from these sources, with total mining revenue reaching $875 million last month.