Bitcoin mining hashprice reached $32.86 per petahash per second per day on November 2 at 18:00 UTC. The latest completed weekly snapshot showed an 8.7% decline from $35.99 a week earlier. Hashprice measures the daily revenue miners can expect for a unit of computing power.
Hashrate Index, Luxor's platform for mining research and data, indicated in an October 30 analysis that mining competition would increase little through December. The analysis derived implied network computing power of 1,056 exahashes per second for November. The December estimate was 1,059 exahashes per second. Both estimates were close to the approximately 1,062 exahashes per second averaged during the mining epoch ending October 29.
The estimates reflect forward-market pricing, not future computing power already observed or difficulty adjustments already scheduled. The September methodology used to interpret contract prices assumes transaction fees of about 0.02 BTC per block. Different transaction fees could therefore alter the implied growth estimates. Mining difficulty rose 16.4%, from 127.45 trillion before the September 19 adjustment to 148.36 trillion on October 29. A pause in competition growth could offer miners relief, but competition would remain at that higher level.
The November 2 update showed an average forward hashprice of $33.04 per petahash per second per day for November through April 2027. That figure provides an indicative revenue benchmark rather than a guaranteed execution price, which depends on agreed contract terms. Stable competition would limit further revenue pressure. Forward selling can separately stabilize the benchmark revenue rate for production matching the contract quantity and dates, provided the contract performs.
Luxor's cash-settled contract pays sellers the difference when the daily index is below the agreed price. Sellers owe the difference when the index exceeds the agreed price. Matching contract quantities and dates with actual production matters because hedging does not guarantee equipment uptime. A deliverable forward gives the seller an upfront payment from the buyer in exchange for delivery to Luxor's mining pool. Seller credit checks apply, and delivery margin may be required. Luxor acts as counterparty for both buyer and seller. Luxor's order book shows buying and selling interest, but Luxor's team must confirm trades.
Operators paying fixed dollar electricity costs can improve cash-flow planning by stabilizing dollar revenue rates on matched production. Higher-cost mining fleets still require enough revenue to meet electricity bills and other expenses. More efficient fleets retain a larger gap between gross revenue and operating costs. Bitcoin's price, transaction fees and the block subsidy also influence dollar hashprice, alongside mining difficulty. Lower Bitcoin prices or transaction fees can reduce unhedged revenue even without increased competition.
Bitcoin Miners' Daily Revenue Per Unit of Computing Power Drops 8.7%
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Summary
Bitcoin analysis shows daily revenue per unit of computing power for miners dropped 8.7% week-on-week, with hashprice falling to $32.86 per petahash per second on November 2. Luxor’s Hashrate Index indicates limited mining competition growth through December, projecting 1,056 exahashes per second for November and 1,059 for December. A September assumption of 0.02 BTC in block fees may impact growth estimates. Mining difficulty rose 16.4% from September 19 to October 29. The daily market report notes Luxor’s forward hashprice from November to April 2027 averages $33.04 per petahash per second per day, serving as a revenue benchmark.
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