CryptoQuant CEO sees rising Bitcoin hashrate as indirect signal from institutions
Institutions backing miners drive hashrate recovery
CryptoQuant's founder and CEO, Ki Young Ju, said rising Bitcoin hashrate is an "indirect bullish signal" from institutional investors backing several public Bitcoin miners.
Hashrate is the amount of computing power on a blockchain (the digital record of transactions) used to secure the network. Ju said higher hashrate means stronger security and better fundamentals for Bitcoin as a store of value.
How much hashrate has recovered
- Recovery: Bitcoin's hashrate has risen about 45% from summer lows, from roughly 726 exahashes per second (EH/s) in July to about 1,050 EH/s on Wednesday, according to CryptoQuant data.
- Still below peak: The network remains below its October 2025 peak of 1,305 EH/s, when Bitcoin's price was above $111,000.
Miner expansion adds to computing power
Nasdaq-listed NIP Group is expanding its mining capacity. The company announced a third tranche asset purchase agreement to acquire about 4.47 EH/s of already-deployed Bitcoin mining hardware. Once closed, machines from all three tranches are expected to bring total hashrate to 13.85 EH/s. NIP Group currently ranks 16th among public Bitcoin miners with 3.11 EH/s operating hashrate; Bitdeer ranks first with 79.9 EH/s, according to Ziven data.
What the CEO says versus what is confirmed
Ju's view that rising hashrate is an "indirect bullish signal" from institutions is his stated opinion based on public miners being largely backed by traditional finance institutions. The confirmed facts are the hashrate recovery numbers and the reported miner expansion plans. No specific institutional endorsements beyond the stated backing of public miners were detailed in the supplied material.
Market reaction for miners
NIP Group's stock fell 6.8% on Wednesday to close at $6.10, extending an 86% decline over the past year. Other large miners including TeraWulf, Core Scientific, Cipher Mining and IREN each fell about 12% that day, with the broader US stock market seeing its sharpest selloff since July after higher-than-expected inflation figures.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.