Firsthand Bitcoin · Data · Bitcoin miners

Hash ribbons

The 30- and 60-day averages of network hashrate, with every miner capitulation shaded.

930.1 EH/s on Sep 21, 2026, against 1013.0 EH/s a year earlier.

When the 30-day average of hashrate drops below the 60-day, miners are switching machines off faster than new ones arrive — a capitulation, shaded here. The moment the 30-day crosses back above is the classic hash-ribbons buy signal.

Capitulations follow halvings and price crashes, and they have ended close to the bottom of every cycle since 2015. They are also when used machines are cheapest to buy.

Hashrate, 30-day average, month by month

Month	Hashrate, 30-day average
2025-10	1084.7 EH/s
2025-11	1076.3 EH/s
2025-12	1050.7 EH/s
2026-01	981.5 EH/s
2026-02	1007.6 EH/s
2026-03	982.9 EH/s
2026-04	957.1 EH/s
2026-05	987.9 EH/s
2026-06	922.2 EH/s
2026-07	897.6 EH/s
2026-08	908.9 EH/s
2026-09	930.1 EH/s

Questions

What is hash ribbons today?

930.1 EH/s as of September 22, 2026, up 2.3% over the last 30 days.

How has it changed over the past year?

A year ago it was 1013.0 EH/s; today it is 930.1 EH/s, a change of -8.2%.

What is the highest hashrate, 30-day average on record?

1110.5 EH/s, on November 12, 2025.

How is this chart calculated?

When the 30-day average of hashrate drops below the 60-day, miners are switching machines off faster than new ones arrive — a capitulation, shaded here. The moment the 30-day crosses back above is the classic hash-ribbons buy signal.

By year

2026 · 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013

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Updated daily. Latest data 2026-09-22.

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