Bitcoin mining economics
Pick any window since 2010 and see whether Bitcoin's price or the network's difficulty moved more. The spread between the two is what changes a miner's edge.
Mining edge
Price change (%)−Difficulty change (%)
Positive is a tailwind for miners. Negative means difficulty moved more than price, whichever direction both went.
Pick any window
Both lines start at zero on the first day of the window. Use a preset or drag the handles on the strip below the chart to set any start and end date. Green means price moved more than difficulty over the window; red means difficulty moved more.
Window
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Loading price and difficulty history...
Over a decade, difficulty has grown far more than price. That is the honest read, and it does not mean mining lost money. Machines are several times more efficient per terahash than they were in 2016, so a miner today buys far more hashrate per dollar and burns far less power per hash. This chart holds hardware constant. For revenue per unit of hashrate, use the hashprice chart.
The window view answers one question: over the dates you picked, did price or difficulty move more? The rolling view asks that same question on every date, each time looking back a fixed number of days, so you can see the stretches where miners had a tailwind or a headwind inside a longer trend.
Daily price and network difficulty are aligned by UTC date and sourced from the Blockchain.com Charts API. Difficulty is carried forward between its adjustments, which happen about every two weeks. Data observed through n/a.
This chart is educational and does not estimate any specific miner's profitability or constitute investment advice.
