Skip to content
Satoshi Gazette

Mining

Hashprice & difficultyAll stories

The lead

Bitcoin Mining May Have Peaked. The Chain Agrees More Than His Own Numbers Do.

Saifedean Ammous argues mining has stopped growing for good. This desk checked his four load-bearing figures against the sources he names. The difficulty stretch is longer than he says — 324 days now, against his 305. The epoch subsidy multiple is 21 percent, not 28. But the peak he nominates as the empirical test is not where Cambridge’s own series puts it: the high was 227 TWh in October 2025, not 190 in December, and December was already the decline.

Filed at block 967,633

Two rows of steel shipping-container mining units with louvred sides face each other across a wide gravel yard, receding toward the horizon under a heavy overcast sky. Floodlight poles stand between them. The site is flat and empty of people.
Photograph by Curtis Huisman, CC BY 4.0

Bitcoin Rallied 30 Percent This Summer. Its Hashrate Went the Other Way.

Aerial dusk photograph of a large modular mining campus where most container rows are dark and a few glow amber, with power lines running toward a brightly lit windowless data-center hall on the horizon.
Original Satoshi Gazette editorial image, generated with OpenAI.

Network hashrate has spent 318 days below its seven-day peak, the longest stretch since ASICs took over, and an August price recovery did not end it. SG reproduces the drought from two datasets and tests the claim that miners now have somewhere else to sell their megawatts.

Filed at block 965,251

The BLAKE2b Fork’s Early Issuance Ran About Nine Times Bitcoin’s Target Pace.

A woodcut-style diagram shows one chain of blocks splitting into three: a heavy steady chain continuing evenly, a thin chain of tightly packed small blocks racing ahead, and a faint dotted chain fading out.
Original Satoshi Gazette editorial illustration, generated with OpenAI.

An operator’s August 30–September 2 record implies about 4,064 height increments in 77.2 hours. That is faster calendar-time issuance, not an increased subsidy cap. Corrected September 6: activation sequence, chain framing and wallet-compatibility limits.

Filed at block 965,246

More from the Mining desk

All stories →