Over the past week, data reveals that the Bitcoin blockchain has witnessed the departure of nearly 100 exahash per second (EH/s) of hashrate. Much of that exodus unfolded after difficulty climbed to 123.23 trillion on April 19.
Will the Upcoming Retarget Restore Bitcoin’s Equilibrium on May 4?
Data from hashrateindex.com shows that 91 EH/s has departed the network since April 17, 2025, when it was cruising at 917 EH/s. The network recently hit an all-time peak of 926 EH/s on April 8, as measured by the seven-day simple moving average (SMA). However, beginning on April 17 and over the following nine days, figures reveal a pronounced decline in computational power.
From April 17 until April 26, the network lost 91 EH/s.
Most of this drop coincided with a 1.42% difficulty rise on April 19. That specific adjustment elevated difficulty to 123.23 trillion and marked the fourth consecutive increase. That rise in difficulty, which instigated a hashrate exodus, has stretched block intervals beyond the 10-minute norm. Blocks now average 10 minutes, 34 seconds.
Since slower block times typically prompt a difficulty reduction, the next retarget on May 4 projects a 5.5% drop. This shift coincides with improved miner revenue, as the hashprice—the expected daily value of 1 petahash per second (PH/s)—jumped markedly last week. On April 19, it was $44.06 per PH/s; today it registers $48.70, a 10.53% gain.
Bitcoin’s recent hashrate retreat illustrates the network’s dynamic equilibrium, as rising difficulty triggers miner departures and temporarily slows block times. Hashprice gains amid this ebb hint at heightened rivalry among remaining miners, easing profitability pressures. The looming difficulty retarget embodies the protocol’s self-correcting nature, poised to realign incentives and potentially lighten the load for miners this cycle.
