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The computing power of the Bitcoin network has fully compensated for the decline in the first half of the year and returned to an uptrend. According to fresh CryptoQuant on-chain data as of October 22, 2026, the network's True Hashrate settled at 1,000 EH/s (1 ZH/s), approaching the historical highs of late 2025.
"Bitcoin hashrate is back in an uptrend, with miners running at full capacity," notes CryptoQuant founder Ki Young Ju. The expert emphasizes that the current cycle marks the transition of mining from the venture sector to the status of a heavy industry controlled by large corporate capital.
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What this uptrend means for the price of Bitcoin
The growth in computing power has triggered a record increase in mining difficulty. Current mining difficulty has reached a historical high of 140.58 T.
The driving force behind the move was the October 16 recalculation of the metric, which showed an increase of 5.92% (one of the largest figures in 2026). The next adjustment at the end of October is expected to raise the bar by another 4–6%.
The current dynamics distribute the market as follows. Companies trading on US exchanges now control 35% to 40% of the global hashrate, and their operational stability is ensured by direct investments from traditional financial institutions.
With the BTC price in the range of $80,000–$83,000 and a hashprice of about $37/PH per day, mining is profitable only for operators with flagship ASIC miners (energy efficiency of 9–12 J/TH) and access to an electricity rate below $0.08–$0.10/kWh. Less efficient equipment on expensive power is inevitably disconnected from the network.
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A feature of the current stage is the reduced dependence of large mining pools on short-term fluctuations in the spot rate. The presence of firm contracts with institutional investors and the partial integration of data center infrastructure for the needs of artificial intelligence have created a stable safety cushion for the industry.
"Higher hashrate means stronger security and better fundamentals as a store of value. Public miners are backed by TradFi giants. This is an indirect bullish signal from institutional investors, imo," emphasizes Ki Young Ju.
More than a year and a half remains until the next halving in April 2028, which gives major players a temporary window for expansion.
Nevertheless, this balance of power will persist only on the condition that current price levels are maintained — in the event of a deep market correction, the pressure on margins will test the strength of even institutional capital.