What is hash rate?
The total computing power miners are pointing at a proof-of-work network, usually quoted in hashes per second.
Hash rate cannot be measured directly; it is estimated from how quickly blocks are being found relative to the current difficulty. Rising hash rate means more hardware is competing, which raises the cost of attacking the chain.
Why it matters: it is the clearest indicator of miner economics. After a halving, revenue per block falls while costs do not, and hash rate is where the consequence shows up. It is frequently cited as a price signal, which it is not — it responds to profitability, and profitability responds to price.
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