Bitcoin’s mining power has shaking violently this week. The hashrate has soaked in about 660 EH/s, the lowest level since the summer of 2024, then surged over 30% in just one day, climbing above 1000 EH/s.
According to mining trackers, these large swings highlight how vulnerable the fragile operation is when external factors change. The BTC also jumped for a short time, exceeding $109,000, returning to the $107,000 mark.
Hashrates enter the country amid global tensions
Based on the report, the drop to EH/S of 660 coincided with the US strike against Iran and Iran’s counterattack. Some miners in the area appear to be turning them on as a precaution. Iran once held nearly 4% of its total hashrate at its peak, but is now located near 0.10%.
Meanwhile, the US-based business still leads the Pack, accounting for more than 35% of the world’s mining capabilities.
Weather and electricity costs have become miners
Texas’ serious heat wave also played a role. Cooling thousands of rigs can be a huge expense when the temperature soars. At the same time, hydroelectric power generation in some China and Canada tends to be soaked during the summer.
This will require some facilities to cut off their rigs rather than running at loss. Miners often use idle capacity to help balance the local power grid when supply is high or absorb excess energy.
New data centers will drive sudden rebounds
Then came yesterday’s jump. Several large “next-generation” data centers have reverted their rigs after scheduled maintenance or testing. When these large sites reconnect, you will see sudden bumps in your network power.
Reporting delays could initially exaggerate the size of the jump, but even after the revision, the network remains close to the highest ever. This pattern shows that some calibrated movements by the main pool can ripple over the entire network.
Difficulty provides relief to miners
In June, network difficulty fell by about 8.5%, making it easier for rigs to spot blocks. Based on chain data, the cost of 1 BTC has reached nearly $98,000. This gives a little breathing room when the price rises to around $107,000-108,000.
I look forward to the stability of the network
The Bitcoin mining scene has become more organized and cost-sensitive than ever before. Small changes in electricity costs and weather can push large farms offline and pull them back when conditions improve.
As prices bounce back and difficulty changes, the miner continues to adjust on the spot. Based on these swings, the raw computing power of the network is always ready to accommodate what comes next.
Unsplash featured images, TradingView charts
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