What Is Hashprice?

Hashprice is the daily revenue a miner earns per unit of hashrate, typically quoted in dollars per terahash per day ($/TH/day).

It's the most useful single number in mining, because it collapses four moving variables into one figure you can act on.

What it captures

Hashprice bundles together:

• Bitcoin's price
• Network difficulty (or total network hashrate)
• The current block subsidy
• Transaction fee levels

Roughly:

hashprice ≈ (daily network revenue in USD) ÷ (network hashrate in TH)

Where daily network revenue is (blocks per day × (subsidy + average fees)) × BTC price.

Why it beats every other metric

Ask "is mining profitable?" and you need four numbers. Ask "what's hashprice?" and you need one.

Because once you know hashprice, return becomes a single comparison:

if hashprice > your cost per TH/day → profitable
if hashprice < your cost per TH/day →

That's it. Your cost per TH/day is your electricity cost (for physical mining) or your maintenance fee (for tokenized hashrate). Compare the two numbers and you have your answer.

What moves hashprice

Up:

• Bitcoin's price rises
• Network hashrate falls (miners capitulating)
• Transaction fees spike, high-congestion periods can lift fee revenue substantially

Down:

• Bitcoin's price falls
• Network hashrate grows, the persistent long-term trend
• The halving, subsidy cuts in half, and so does the largest component of hashprice. See halving effects.

The long-term picture

Hashprice has trended structurally downward across Bitcoin's history, interrupted by price rallies and fee spikes.

This is not a bug. It reflects mining becoming more competitive and more efficient, exactly what you'd expect from a maturing industry. But it means any strategy that assumes today's hashprice persists is wrong.

Every projection should model hashprice declining. The calculator builds this in via a difficulty growth input.

How to use it

Before buying hashrate, compare hashprice to the cost per TH/day you'd pay. If the margin is thin at today's hashprice, it will be negative after the next difficulty adjustment.

When holding, watch hashprice against your cost. Crossing below is your signal to reassess.

When comparing platforms, cost per TH/day is the only comparable metric across products. Everything else is packaging.

Where to find it

Several public hashprice indices publish live figures. Check one before any mining purchase, including a Digital Miner. It takes thirty seconds and it's the single most informative thing you can do.

FAQ

What's a good hashprice? Relative to your costs, not absolute. Above your cost per TH/day is good.

Why is hashprice falling? Primarily because network hashrate grows over time, plus periodic halvings.

Does hashprice include electricity costs? No, it's revenue, not profit. Subtract your costs.

How does the halving affect hashprice? It roughly halves the subsidy component, which is the dominant portion of miner revenue.

Is hashprice the same as Bitcoin's price? No. Hashprice is revenue per terahash; it depends on Bitcoin's price but also on difficulty and fees.