Key Notes
- CryptoQuant CEO Ki Young Ju views Bitcoin’s hashrate recovery as a positive signal for its investment case.
- The accompanying chart supports a rebound, but does not establish full utilization across all mining fleets.
- Institutional holdings in listed miners are dated ownership records, not proof of new Bitcoin buying.
Bitcoin’s computing power is recovering, and CryptoQuant founder and CEO Ki Young Ju sees the rebound as a positive signal for the asset’s longer-term investment case. His October 22 assessment links renewed mining activity to stronger network security and the involvement of traditional financial institutions in listed miners.
In his post, Ju said hashrate was trending higher again and described miners as operating at full capacity. He presented the institutional connection as his interpretation, rather than a disclosed round of new investment or a measured forecast for Bitcoin’s price.
— Ki Young Ju (@ki_young_ju) October 22, 2026
A Recovery in Computing Power
The accompanying CryptoQuant chart tracks daily hashrate alongside a smoother series labeled True Hashrate, measured in exahashes per second. The latter turns upward after a decline earlier in 2026, although it remains below its late-2025 high. The graphic supports a recovery, rather than a claim that the network has already established a new record on that measure.
Hashrate estimates how much computing work miners perform to compete for blocks. Daily readings can move sharply because blocks are found irregularly, which makes the chosen measurement period important when comparing a short-lived spike with a sustained trend.
A higher network total also does not reveal the utilization of every mining fleet. Ju’s post does not provide an industry-wide inventory of installed machines or operating rates. His full-capacity description should therefore be read as a broad assessment of activity, rather than evidence that every operator has switched on all available equipment.
Security and Profitability Measure Different Things
Bitcoin’s technical guide explains how proof of work makes rewriting transaction history costly. More computing power supporting the chain raises the work an attacker would need to compete with honest miners, all else equal. The distribution of that power also matters; a larger aggregate does not remove every security risk.
The protocol adjusts mining difficulty every 2,016 blocks to keep block production close to its intended pace. A rising hashrate does not permanently accelerate issuance or increase the block subsidy. For miners, greater competition can also mean a smaller share of rewards for unchanged equipment.
That distinction helps explain why network strength can improve while individual businesses still face pressure. Electricity prices, machine efficiency and financing costs affect profitability separately from the amount of computing power connected to Bitcoin. CoinScreamer’s earlier report examined mining-margin pressure and the move toward AI infrastructure, illustrating why operators do not all face the same economics.
What Institutional Ownership Can Show
There is a documented connection between major asset managers and publicly traded miners. MARA’s April 30, 2026 proxy statement listed BlackRock and two Vanguard management entities among shareholders with beneficial ownership above 5%. The filing describes both fund and client holdings in the Vanguard disclosures.
Those are dated ownership records, not proof of a fresh institutional purchase during the hashrate rebound. Holding shares in a miner also differs from buying BTC directly or supplying new capital to that company.
Ju’s bullish reading combines improving network activity with the financial links around listed miners. The observable development is the rebound in computing power. Whether it anticipates stronger Bitcoin demand or higher prices remains an investment thesis, rather than a result established by the hashrate chart.
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