Bitcoin Hashrate Reclaims One Zettahash As Mining Competition Rebounds

TL;DR: BlocksBridge reported Bitcoin’s seven-day hashrate above one zettahash in the week to October 22. Mining competition has recovered despite companies shifting some infrastructure toward AI.

A mining company can switch strategy without making Bitcoin mining any easier for the businesses that remain. New network data puts that distinction in focus.

In its October 22 Miner Weekly report, BlocksBridge Consulting said the network’s seven-day average hashrate had recovered above one zettahash per second, its highest level since March 3. One zettahash is equivalent to 1,000 exahashes per second.

The report also recorded a 5.92% increase in mining difficulty on October 16. Together, the figures show that announcements about individual operators leaving mining cannot be treated as a direct measure of network-wide competition.

BlocksBridge’s analysis separates a site’s future use from the fate of the equipment installed there. A facility can shift toward AI infrastructure while Bitcoin mining machines are sold or relocated, allowing them to contribute computing power elsewhere.

That distinction does not establish where every additional unit of hashrate came from. It does explain why corporate announcements and network data can point in different directions without contradicting each other.

For an operator that keeps mining, the relevant competitive field is the worldwide network. A rival’s strategic exit only reduces that field if the associated computing capacity actually disappears and is not offset by activity elsewhere.

The same caution applies to expansion plans. Announced capacity, installed machines and equipment actively submitting work are different stages. Only the last contributes to observed network performance.

A hashrate figure is an estimate of computational work, not a direct meter reading from every miner. Blockchain.com’s chart methodology explains that estimates use block production and difficulty; short periods can fluctuate because finding blocks involves randomness. A seven-day average helps smooth that noise.

That is why the time window matters. The reported one-zettahash milestone refers to a seven-day average through the October 22 report, not a guaranteed reading at every moment since then or a separate 30-day measure.

Mining difficulty is the protocol’s adjustment to the work required to find a block. The Bitcoin developer documentation describes a recalculation every 2,016 blocks, targeting roughly two weeks for that interval. Faster block production generally leads to a harder target for the next period.

Revenue is another question. More network computing power does not automatically mean more income for each machine. With other conditions unchanged, an operator supplying the same amount of work faces a smaller relative share when competing capacity expands.

Profitability also depends on the value of block rewards and fees, power costs and equipment efficiency. A rise in Bitcoin hashrate therefore cannot, by itself, establish whether a miner’s margins improved.

The rebound is evidence of renewed network competition over the reported period. Its commercial significance rests on who can supply that work economically, rather than on whether a prominent company has changed its strategy.

Written by the News Desk and edited by Samuel Rae.