
Hash Rate is the number of hashes per second performed by all miners on the Bitcoin network, measured in H/s (1 EH/s equals 10^18 H/s). It cannot be observed directly and is estimated from mining difficulty and the number of blocks produced.
A rising hash rate means more machines are running and miners are committing more capital and energy, which also raises the cost of attacking the network. Over long periods hash rate and price trend together, but new rigs take months to deploy, so hash rate usually lags price.
Because block discovery is random, daily estimates are noisy; turning on the 30-day moving average gives a steadier read. Sharp drops usually trace back to external events: after China's 2021 mining ban, hash rate fell by nearly half within about two months, and weather-related curtailment or older machines switching off after a halving can cause temporary dips.
It is inferred rather than measured. Mining difficulty sets the average number of hashes needed to find a block; multiplying that by the number of blocks produced over a period and dividing by its length gives the hashes performed per second. Luck in block discovery makes short-window estimates noisy.
Difficulty adjusts every 2,016 blocks to keep the average block time near 10 minutes. When hash rate rises, blocks arrive faster and the next adjustment raises difficulty, so difficulty roughly reflects the hash rate of the previous two weeks with a lag.
Hash rate has grown from home-computer mining in 2009 to more than 1,000 EH/s in recent years, a span of over a dozen orders of magnitude. A linear scale would flatten the early history, while a log scale shows the pace of growth in each era.