Provisional figures come from days that have closed but whose inputs, such as the quoted price or a company's latest filing, can still be revised; the linked chart always shows the current value.
Hash rate and difficulty
The network averaged 956 EH/s of hash rate in the second quarter, 3.6% less than the first quarter's 992 EH/s.
Difficulty changed 7 times in the quarter for a net +0.06%; the largest rise was +7.2% on 27 Jun, the largest cut −10.1% on 14 Jun.
The 30-day average hash rate ended the quarter 3.33% below its 60-day average, against 1.93% below three months earlier. A 30-day average below the 60-day shows hash power coming off the network.
- Hash rate, quarter average
- 956 EH/s−3.6%
- Difficulty, net change
- +0.06%
- 30-day against 60-day hash rate
- −3.3%
Revenue and hashprice
Miners earned 40,921 BTC in the second quarter: 40,659 BTC of new issuance and 262 BTC in fees, so fees were 0.64% of the total. At each day's price that came to $2.93B, against $3.06B in the first quarter.
Hashprice, what a petahash earns in a day, went from $32.24 to $27.73 over the quarter and averaged $33.66. Almost all of that came from the price: bitcoin moved −14.2% over the quarter and difficulty +0.06%. Against the electricity hashcost of the average profitable machine, $21.34, the margin was $6.38 a petahash.
- Miner revenue
- 40,921 BTC+1.8%
- Paid in fees0.64% of revenue
- 262 BTC
- Hashprice at quarter endper PH a day
- $27.73−14.0%
Balances and selling
Miner balances rose by 1,343 BTC to 1.78M BTC in the second quarter.
They sent 41,423 BTC out of their addresses, 1.0% less than in the first quarter, and 2.16% of the last 30 days' outflow went to exchanges.
The miner outflow multiple, daily outflow against its yearly average, ended the quarter at 0.63, against 0.65 three months earlier; above 1 means more is leaving than usual.
- Miner balances
- 1.78M BTC+1,343 BTC
- Sent out by miners
- 41,423 BTC
- Miner outflow multiple
- 0.63
Listed miners' own production and treasuries, from their filings: cryptokeyhole.com/bitcoin-mining-companies/.
Prices
ProvisionalBitcoin closed the second quarter at $58,532, down 14.2% on the quarter.
- Bitcoin quarter close
- $58,532−14.2%
ChartsBTCPrice
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How this review is made
The review is written automatically after each quarter closes, from the charts CryptoKeyhole publishes. Hash rate, difficulty, revenue and miner balances come from our own Bitcoin node. Hash rate is estimated from block arrival and difficulty, so it is averaged over the quarter. Miner addresses are identified from coinbase transactions. No one edits the figures, and each sentence only restates them.
A quarter is a calendar quarter in UTC. A level compares the last reading of the quarter with the last reading of the quarter before; a flow is the sum of every day of the quarter. A chart whose history starts inside a quarter gives no figure for it. Each linked chart explains its source and calculation.
The sentences describe the quarter's data and make no forecasts.