Bitcoin Blockchains Hashrate grows and reveals a growing shift between networking activity and prices for its original token Bitcoin (BTC).

On a 14-day moving average, the hash rate, representing the computational power required to utilize a block on Proof-of-Work Bitcoin Blockchain, recently reached an All-Time High of 838 Exahashes per day. Second (EH/S), and on a 24-hour timeframe it rose to 974 EH/S, the second highest level ever, according to glass node data.

Measurement of a 24-hour window can be misleading due to blocking time variability, so longer time frames provide more reliable insight. In two days, Bitcoin’s difficulty adjustment is expected to calibrate every 2016 blocks to maintain a 10-minute block interval-to increase by over 3%and reach a new top.

This deviation between hash frequency and price is remarkable. While Bitcoin remains approx. 25% during its high time, the mining costs continue to rise. For miners to remain profitable and cover operating expenses and capital costs, a strong Bitcoin price, full blocks and high transaction fees are important.

Currently, miners earn revenue through two channels: Block Rewards (3,125 BTC per block in the current epoch) and transaction fees. However, transaction fees are extremely low – on average about 4 BTC per day. Day or approx. $ 377,634. As Bitcoin’s block grants continue to halve every four years, sustained or increased transaction activity will be critical of maintaining mining principles.

Near empty blocks

Develops Mononaut, from Mempool, recently noted that Foundry USA pool extracted the dome “non-empty” block of over two years, containing only seven transactions — a rarity that was only surpassed by one block of four transactions back in January 2023.

In other words, while the rising hash rate is painting a picture of a flowering network, they almost empty blocks make it the case with a powerful train that faster down the tracks, but without passengers.

That’s a reason for concern for Nicolas Gregory, the creator of Mercury Layer and a former Nasdaq board director.

“Half-Tom Bitcoin blocks tell a history-hawking store line could get his future,” Gregory said at X.

“I hope Bitcoiners are aware that this space is more than just podcasts, spaces, and the ‘number goes up’ digital gold narrative. If we don’t get people using Bitcoin for real trade, it’s played over,” Gregory added.