What is Bitcoin hashprice?

Hashprice is the expected mining revenue earned per unit of hashrate over one day — the single number that tells you what a terahash of SHA-256 work is worth right now. It collapses three moving variables — the Bitcoin price, network difficulty, and transaction fees — into one rate, normally quoted in US dollars per terahash per day (USD/TH/day) or, for convenience, per petahash per day (USD/PH/day, where 1 PH = 1,000 TH). The term was coined by Luxor Technology, whose Hashprice Index popularised it across the industry; the dashboard above is D-Central's own live read of the same public inputs, quoted in both CAD and USD for Canadian miners.

How we calculate it

For a given hashrate H (in TH/s), expected daily revenue in BTC is:

daily BTC = (H × 1012 × 86,400 × reward) ÷ (difficulty × 232)

where reward is the per-block payout. We compute two versions and show both: a subsidy-only hashprice (reward = the 3.125 BTC block subsidy) and a fee-inclusive hashprice (reward = subsidy + the average transaction fee per block over the last 144 blocks, currently about 0.8% on top). Multiplying by the live BTC price gives USD; we convert to CAD at the rate shown. This is the same revenue math we publish in the mining profitability calculator — hashprice is just that revenue expressed per unit of hashrate.

Why the number keeps moving

• Block subsidy. The largest input is the coinbase subsidy. Each halving cuts it in half, stepping hashprice down sharply unless price or fees rise to compensate.
• Difficulty. As more hashrate joins, difficulty retargets upward (roughly every 2,016 blocks) and each terahash claims a smaller slice of issuance — the main reason hashprice grinds lower over long horizons.
• Transaction fees. Fee revenue is volatile; busy mempools (inscriptions, high on-chain demand) can briefly add several percent — or, rarely, far more — on top of the subsidy.
• BTC price. Revenue is denominated in sats but quoted in fiat, so every move in the BTC/USD and USD/CAD rate moves hashprice.

Provenance. Difficulty, network hashrate, fee revenue and block height come from mempool.space; the BTC price comes from CoinGecko. Values are recomputed server-side every 15 minutes and rendered into this page (never client-side only). See the Mining Data Trust & Methodology page for how we source and verify data. This is an informational estimate, not financial advice.