Bitcoin network hashpower: According to CoinShares research, by July 2025, Bitcoin’s network hashpower is likely to surpass 1 Zettahash per second (ZB/S), indicating improved network security and miner confidence.
Bitcoin Hashpower to Hit 1 Zettahash in 2025
A Coinshares analysis shows that early in July this year, Bitcoin’s network hashpower is on target to hit the historic mark of 1 Zettahash per second (ZH/s). Accelerating earlier forecasts, this projection shows the outstanding durability and expansion of Bitcoin mining. With a network hashpower of 778 Exahash per second (EH/s) by 2024, Bitcoin has exceeded Coinshares’ earlier estimate of 765 EH/s. The high price performance of Bitcoin in 2024 encouraged miners to install more hardware.
With estimates of 1.28 ZH/s by 2025 and 2.0 ZH/s by early 2027, the Coinshares team expects hashpower to keep rising, therefore indicating more investment and competition in the mining industry.
Bitcoin’s 1 Zettahash Milestone Boosts Security
For Bitcoin, hitting one zettahash every second marks a significant turning point. It demonstrates improved network security, as a more robust network helps reduce the possibility of a 51% attack. It also implies that Bitcoin miners are heavily investing in hardware, indicating their faith in the cryptocurrency’s future.
Coinshares: Bitcoin Hash Prices to Drop by 2026
Although the Coinshares study also examines hash prices, which affect miner income, it presents an optimistic view of the hashrate increase for Bitcoin. Although they have exhibited little change, hash prices are expected to decline gradually.
Through the 2028 Bitcoin halving cycle, Coinshares projects hash prices ranging between $35 and $50 per petahash per day (PH/day). Driven by increasing mining hardware efficiency and growing competition, the average hash price could drop below $40 per PH/day by Q1 2026.
Bitcoin vs Gold Mining: A Comparison
Particularly given gold’s recent surge, the paper compares Bitcoin with gold mining. Although the two resources have many basic characteristics, their mining techniques differ greatly. While Bitcoin mining operates virtually, solving complex mathematical problems using ASICS, energy, and the internet, a gold mine involves physical extraction, heavy machinery, and geological processes.
The inherent expense of mining drives both the scarcity of assets: physical constraints shape gold; immutable code and competition drive Bitcoin. With income depending on the miner’s proportion of the world hashpower rather than only the market price of Bitcoin, Bitcoin mining is more dynamic and erratic than gold mining. A miner’s output can drop even if their operations stay the same, as more players grow their activities.
Ahead for Bitcoin Miners?
One fast-changing industry is bitcoin mining. Miners have to take into account their position in the worldwide hashrate competition, as well as changing market pricing, if they are to stay ahead. The future appears bright for miners who can adapt to the evolving landscape and invest in efficient mining hardware, as the Bitcoin network is expected to continue expanding.
