Bitcoin's hash rate fell to its lowest level in about 6 weeks as of June 6 at 2 PM, with the 7-day moving average reaching 907,763,448 TH/s according to Blockchain.com data. The decline of approximately 103,389,101 TH/s from 7 days prior marks the weakest mining activity since April 27, indicating reduced mining demand across the network. Digital Asset provides weekly mining metrics every Sunday following the April 20 BTC halving, tracking miner holdings, hash rate, and profitability indicators to assess post-halving network conditions.
Miner Bitcoin Holdings Increase by 637 BTC
Miner Bitcoin holdings stood at 1,802,148 BTC (approximately 169 trillion won) as of June 6 at 2 PM according to CryptoQuant charts. This represents an increase of 637 BTC (approximately 59.8 billion won) compared to 7 days prior. The increase indicates miners are accumulating mined Bitcoin rather than selling, lending, or using it as collateral.
Hash Rate Drops to 6-Week Low at 907.76 Million TH/s
The Bitcoin hash rate 7-day moving average recorded 907,763,448 TH/s as of June 6 at 2 PM. This marks a decrease of approximately 103,389,101 TH/s from 7 days prior. The metric has not reached this low level since April 27, about 6 weeks ago. Hash rate represents the total computational processing power deployed on the network to mine Bitcoin. The decrease signifies reduced mining demand among miners.
Fuel Multiple Falls to 0.55
The Bitcoin fuel multiple stood at 0.55 as of June 6 at 2 PM on Visiometrics. This represents a decline of 0.22 from 7 days prior. The fuel multiple is calculated by dividing daily Bitcoin mining volume by the 365-day moving average, serving as an indicator to assess market overheating and undervaluation relative to mining output. A reading above 4 typically indicates overheated mining activity, which generally precedes Bitcoin price declines. Conversely, a reading below 0.4 suggests significantly reduced miner profitability and Bitcoin undervaluation, which tends to lead to price increases. The metrics are based on data from May 30 to June 6.
FAQ
What does the Bitcoin hash rate decline to a 6-week low indicate?
The hash rate dropping to 907,763,448 TH/s as of June 6 at 2 PM — the lowest since April 27 — indicates reduced mining demand across the network, with computational power deployed for mining decreasing by approximately 103,389,101 TH/s compared to 7 days prior.
Why are miners increasing their Bitcoin holdings despite lower hash rates?
Miner holdings increased by 637 BTC to 1,802,148 BTC as of June 6 at 2 PM according to CryptoQuant data, suggesting miners are choosing to accumulate rather than sell, lend, or collateralize their mined Bitcoin during this period of reduced network activity.
