Bitcoin Price Hits New High — How the Hashrate Market Reacted (July 10–17)
Hashrate Market Overview
Bitcoin (BTC) surged past $122,000 recently, sparking widespread market attention. At the time of writing, driven by both rising prices and hashrate, the 7-day average total network hashrate climbed to 933 EH/s, while network difficulty rose to 126.27 T, a 7.96% increase from the previous adjustment
Since 2024, Bitcoin’s total network hashrate has soared from 500 EH/s to over 900 EH/s in 2025. From June 15 to 24, the hashrate temporarily dropped 15% due to power disruptions in Iran and heatwaves in the U.S., but quickly rebounded and reached new highs —showcasing the resilience of the Bitcoin network.
The April 2024 halving reduced block rewards to 3.125 BTC, but ongoing price surges have offset the revenue drop. When BTC hit $122,814, its role as “digital gold” and a store of value became even more evident, further reigniting interest in mining.
Both hashrate and difficulty are seeing historic growth. The current network difficulty stands at 126.27 T, up 7.96% over 7 days. Difficulty adjusts every 2,016 blocks (~2 weeks) to maintain an average 10-minute block time. As of this report, the average block time is 10 minutes 2 seconds. The next difficulty adjustment is expected on July 26, 2025, with a projected 5.7% increase to 133.5 T, reflecting the increasingly fierce mining competition.
Cloud Mining Market Trends
As BTC price and hashrate continue to rise, the cloud mining market has grown steadily, now accounting for an increasing share of global mining power. From 2025 to 2030, the sector is expected to grow at an average annual rate of 20%, positioning itself as a key pillar of BTC mining.
Over the past week, the cloud mining market saw slight price changes amid rising BTC prices and heightened market enthusiasm. The unit price of 30-day and 60-day contracts dropped around 2%, while 90-day, 180-day, and 360-day products from some providers saw unit price increases of over 5%.
Tip for users: Always calculate the theoretical daily income per unit of hashrate based on real-time market data to evaluate the profitability of cloud mining products. Also, beware of fraud risks on small or unverified cloud platforms — it's best to choose reputable providers.
Market & Regulatory Updates
Since July 7, U.S. spot Bitcoin ETFs have seen significant net inflows. From July 7–16, the total net inflow reached approximately $3.63 billion, with $4.4 billion flowing in over the last 9 trading days. The week of July 7–11 alone recorded a net inflow of $2.5 billion, and on July 17 a single-day inflow of $523 million was reported.
On the morning of July 14, after BTC broke past $122K, Bitcoin mining-related stocks led gains in the crypto equities sector:
- MARA Holdings (MARA) surged 10% to $20.95 within an hour of market opening.
- CleanSpark (CLSK) rose 7.5% to $13.59.
- Core Scientific (CORZ) and Riot Platforms (RIOT) posted moderate gains of around 5%.
- Beyond mining, MicroStrategy (MSTR) and Galaxy Digital (GLXY) increased by ~3.75%, while Coinbase (COIN) and Circle (CRCL) rose less than 2%.
This rally was partially fueled by "Crypto Week" on Capitol Hill, during which major crypto-related bills were reviewed.
Canaan Inc. Transitions to Pure-Play Bitcoin Mining
Canaan Inc. (CAN) announced it would exit its AI chip business to fully focus on:
- Bitcoin mining rig sales
- Proprietary mining operations
- Consumer-facing mining products
This strategic pivot marks its transformation into a “pure-play Bitcoin mining company”, aligning its operations with growing BTC market demand and trends.
Institutional Hashrate Expansion
According to JPMorgan, U.S.-listed mining firms now control nearly 34% of Bitcoin’s total global hashrate, doubling their share since January 2022 (then ~15%).
VanEck’s Digital Asset Head Matthew Sigel commented that access to U.S. capital markets has become a major competitive advantage for miners.
Last month, JPMorgan reported that U.S.-listed miners experienced one of their most profitable quarters ever, generating roughly $2 billion in gross profits.
MARA Holdings continues to lead among U.S. miners, having mined 950 BTC in June alone, bringing its total BTC holdings close to 50,000.
U.S. Congress Passes Three Crypto Bills
During Crypto Week in Washington, the U.S. House of Representatives passed three key crypto bills on July 17:
- Clarity for Digital Assets Act
- GENIUS Act (Guidance for U.S. Innovation on Stablecoins)
- Anti-CBDC Act
The GENIUS Act is expected to usher in major crypto regulatory reforms and may become the first major piece of crypto legislation signed into law. The signing ceremony is expected to take place the following afternoon at the White House.
Conclusion: Opportunity Meets Caution
With Bitcoin hitting record highs, network hashrate surging, and mining difficulty increasing, the crypto market is once again feeling Bitcoin’s strong appeal.
Cloud mining, due to its low entry barrier and flexibility, is regaining attention as an accessible way for everyday investors to participate in BTC mining.
However, caution is still advised. Investors should formulate sound strategies, choose reputable platforms, and pay attention to sustainable mining trends. Tools like Bit.com’s real-time cloud mining order book can help monitor market dynamics and make informed decisions.