Hash rate
Also called: hashrate · network hash rate · hash power
Definition
Hash rate is the total computing power that miners use to secure a proof-of-work blockchain, measured in hashes per second.
How hash rate works
In proof-of-work networks like Bitcoin, miners repeatedly run a hashing function to find a valid block. Each attempt is one hash. The network hash rate estimates how many attempts all miners make per second, usually shown in exahashes per second (EH/s), where one exahash is a quintillion hashes.
A higher hash rate makes the network harder to attack, because someone would need to control a large share of the total power to rewrite recent blocks. Bitcoin adjusts its mining difficulty roughly every 2,016 blocks so that blocks keep arriving about every 10 minutes no matter how much hash rate joins or leaves.
Hash rate is an estimate derived from how fast blocks are found, so daily readings are noisy; analysts often use 7-day or 30-day averages. Changes reflect miner economics: new machines, energy prices, regulation and events such as halvings, which cut miner rewards and can push less efficient miners offline. Hash rate is a security and health metric, not a direct price signal.
Example
Suppose the Bitcoin network runs at 600 EH/s and a mining company operates machines totalling 12 EH/s. Its share is 12 / 600 = 2% of the network. With about 144 blocks per day and a reward of 3.125 BTC per block, total daily issuance is 450 BTC. A 2% share would earn about 9 BTC per day on average from block subsidies, before fees and costs, though actual results vary with luck.
Common mistakes
- Treating a single day's hash rate spike or drop as a real trend when estimates are noisy.
- Assuming a rising hash rate means the price must rise.
- Confusing hash rate with difficulty, which is adjusted periodically to respond to hash rate.
Learn and practise
FAQ
What does a high hash rate mean for Bitcoin?
It means a lot of mining power is securing the network, making attacks more expensive. It also means more competition among miners for the same block rewards.
Do proof-of-stake coins have a hash rate?
No. Proof-of-stake chains such as Ethereum after September 2022 secure the network with staked coins and validators, not mining power.