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Cryptocurrency hash rate is the number of hashing calculations performed each second. A miner’s rate describes its computing work; a network’s rate estimates the combined work miners direct at a proof-of-work blockchain. It is measured in hashes per second—not transactions per second.
What does hash rate mean in crypto?
One hash per second (H/s) means one hashing calculation each second. Bitcoin.org describes hash rate as the measuring unit of the Bitcoin network’s processing power: Bitcoin.org’s Hash Rate glossary entry.
Hash rate is a rate, not a running total. If a miner performs a billion hashing attempts over a period, the rate depends on how much time those attempts took. Use a unit such as “X hashes per second” or “X EH/s” when describing a rate.
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What are miners hashing?
In Bitcoin mining, software prepares a candidate block header, and mining hardware repeatedly hashes it while trying different nonce values and, when needed, other header data. The aim is to find a hash below the network’s target. A qualifying result can be submitted as a block; unsuccessful attempts are simply part of the search. The Bitcoin Developer Guide’s mining explanation describes the process and the use of ASIC mining hardware.
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Mining pools may give participants a less demanding “share” target so they can demonstrate contributed work more frequently than they would find a network-valid block. A share helps a pool estimate contributions and allocate proceeds according to its payout method; it is not necessarily a block accepted by the Bitcoin network.
Which hash-rate units are used?
Prefixes indicate how many hashes are performed each second. Bitcoin.org identifies TH/s, PH/s and EH/s as common units for Bitcoin’s network-scale hash rate.
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| Unit | Hashes per second |
|---|---|
| H/s | 1 |
| kH/s | 1,000 |
| MH/s | 1,000,000 |
| GH/s | 1,000,000,000 |
| TH/s | 1,000,000,000,000 |
| PH/s | 1,000,000,000,000,000 |
| EH/s | 1,000,000,000,000,000,000 |
The prefixes mean kilo, mega, giga, tera, peta and exa, respectively. For example, 1 TH/s means one trillion hashes per second.
How does a miner’s rate differ from network hash rate?
A device hash rate is the processing capacity attributed to that particular machine, commonly reported by its manufacturer. Network hash rate is an estimate of the aggregate computational power miners are directing at a network. A single device’s specification should not be mistaken for the whole network’s rate.
Comparing hash-rate figures is meaningful only when they refer to the same proof-of-work algorithm and unit. Also check whether a figure describes a device, a pool or a whole network; whether it is a rated capacity or an estimated observed rate; and, for a network estimate, the observation date and calculation window.
How is Bitcoin network hash rate estimated?
There is no direct count of every machine and every attempt across the network at a precise instant. Instead, estimates use observed block production and proof-of-work parameters over a period. The result can vary with the chosen window and recent blocks.
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Bitcoin Core’s version 25.0 documentation says its getnetworkhashps RPC returns estimated network hashes per second based on the last n blocks. Its default lookback is 120 blocks; -1 uses blocks since the last difficulty change, and a block height can be supplied for a historical estimate. See the Bitcoin Core 25.0 RPC documentation.
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How are hash rate and difficulty related?
Hash rate measures hashing work per unit of time. Difficulty describes how challenging it is to find a valid proof-of-work result under the network target. Difficulty is not itself a count of hashes per second, so the terms are related but not interchangeable.
Bitcoin adjusts difficulty every 2,016 blocks. If blocks have arrived faster or slower than the intended pace, the adjustment changes the challenge for subsequent mining so block production trends toward the protocol’s roughly ten-minute average interval. Network hash rate inferred from difficulty and block timing remains an estimate over an interval, not a sensor reading of miners.
What hash rate can—and cannot—tell you
More attempts per second increase the chance of finding a qualifying result over time, much like making more attempts in a lottery-like search; they do not guarantee success in any particular second. A miner’s share of estimated network hash rate can indicate its relative contribution, but it does not establish whether mining is profitable. Revenue and costs also depend on factors including difficulty, Bitcoin’s price, transaction fees, rewards and operating expenses.
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