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Hash rate is the number of cryptographic hash calculations a processor performs per second. In Bitcoin, it can describe one miner’s computing rate or an estimate of the combined rate of miners across the network; those figures have different scopes and are not transaction-speed measures.
What is cryptographic hash rate?
The National Institute of Standards and Technology (NIST) defines hash rate as “The number of cryptographic hash functions a processor can calculate in a given time, usually denominated as hashes per second.” The term describes a rate of computation: how many hash calculations a processor performs over a unit of time. NIST’s glossary entry points to NISTIR 8202 for context.
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What does a hash-rate figure refer to?
A device or miner
A device hash rate describes the computation rate of one processor or miner. It is a measure of that equipment’s hash calculations per second.
A proof-of-work network
A network hash rate describes the estimated aggregate mining computation across miners. Unlike a device’s reported performance, a network estimate is inferred from observable network activity rather than measured directly from every machine. Coin Metrics documents a method based on mining difficulty and observed block intervals.
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How is network hash rate estimated?
Coin Metrics’ block_hashrate_mean_1d metric estimates a mean rate from the preceding 24 hours, using difficulty and block intervals in a sliding one-day average. Block arrivals vary, so a short observation window is more affected by random variation than a longer one. The resulting network figure is an estimate for its stated interval, not an exact, real-time census of miners’ work.
Estimation methods and windows can differ between providers. When reading or comparing network figures, check the chain, source, measurement interval, and method. A 2017 study by A. Pinar Ozisik, George Bissias, and Brian Levine notes that estimates based only on published blocks do not require miner cooperation but are less accurate than estimates that use miner status reports; it also discusses how miner rates can change dynamically. The paper examines hash-rate estimation from block data and miner reports.
What units are used?
The base unit is hashes per second, abbreviated H/s. Larger prefixes express higher rates; Bitcoin.org’s glossary gives these common network-scale units:
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|---|---|
| Th/s | Trillions of calculations per second |
| Ph/s | Quadrillions of calculations per second |
| Eh/s | Quintillions of calculations per second |
These are unit scales, not current estimates of Bitcoin’s network rate. Bitcoin.org’s glossary also places hash rate in the context of mining.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Does hash rate mean faster transactions?
No. Hash rate counts computation attempts per second; it does not count transactions processed per second or promise that a particular transaction will confirm sooner. In Bitcoin, it is a mining and proof-of-work measure, not a transaction-throughput metric.
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How should you compare hash-rate figures?
- Scope: distinguish a single processor or miner from an entire network.
- Unit: check the prefix and scale, such as H/s, Th/s, Ph/s, or Eh/s.
- Interval: separate a device performance figure from a network estimate averaged over a stated time or block window.
- Method: note whether a device figure is reported by the device or a network value is inferred from difficulty and block intervals, or another stated method.
- Chain and period: make sure historical comparisons refer to the same chain and protocol context. Coin Metrics’ Ethereum hash-rate data is historical and pre-merge; Ethereum switched from proof of work to proof of stake at the merge, so it no longer has a proof-of-work network hash rate after that change.
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