Bitcoin Hashrate Shoots Up To New All-Time High Amid Crash

Data shows amid the panic of the crypto crash, the Bitcoin mining hashrate has gone flying to a new all-time high.

According to the latest weekly report from Arcane Research, the BTC miners’ revenues continue to suffer as price crashes and competition becomes all-time high.

The “hashrate” is an indicator that measures the total amount of computing power currently connected to the Bitcoin network.

When the value of this metric rises, it means more mining rigs are coming online, which leads to an increase in the competition among miners.

This results in smaller BTC revenues for everyone involved as the rewards are fixed and are shared between the active hashrate.

On the other hand, a decrease in the indicator’s value implies miners are shutting down some machines, possibly because of their mining revenues not being able to pay off electricity costs.

Now, here is a chart that shows the trend in the Bitcoin hashrate over the past year:

Bitcoin Hashrate

As you can see in the above graph, the Bitcoin mining hashrate has gone up over the last few days, and has now made a new all-time high.

Since miners usually pay their running costs in USD, the value of their BTC rewards in the pound is what matters to them.

Due to the crash, the price of the crypto has fallen down to around $21k, which would have delivered a blow to not just the hodlers, but also the miners.

Miner revenues had already been on a decline, but this crash combined with the hashrate reaching new highs mean further shrinkage in their profits.

The below table highlights the various metrics related to miners and their revenues.

Bitcoin Miner Revenues

While the table shows the daily Bitcoin miner revenues as $27m, the report notes that this is a 7-day average, and the actual value for the day of the crash is closer to $23m.

BTC Price

At the time of writing, Bitcoin’s price floats around $21.5k, down 30% in the last seven days. Over the past month, the crypto has lost 28% in value.

Below is a chart that shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of that has zero human input.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 30,635 Betfair markets traded are here and the charts are here.

Top 100 Comments on

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.
Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.