September 2026 State of the Network Report
This report provides an overview of the Swarm network’s key metrics for September 2026, including rewards, participation levels, and node distribution, and places them in context with recent monthly trends.
Network Total Monthly Rewards
This metric shows the total storage incentive rewards paid out across the network each month.
| Month | Total Rewards (xBZZ) |
|---|---|
| April | 12,265 |
| May | 14,384 |
| June | 16,040 |
| July | 18,359 |
| August | 20,891 |
| September | 27,724 |
Total network rewards in September were 27,724 xBZZ, up from 20,891 xBZZ in August, marking a fifth consecutive monthly increase since the April low and the highest total in the period shown.
Monthly Median Win Values
| Month | Median Win (xBZZ) |
|---|---|
| April | 3.72 |
| May | 4.15 |
| June | 4.86 |
| July | 5.41 |
| August | 6.04 |
| September | 8.27 |
The median win value rose to 8.27 xBZZ in September from 6.04 xBZZ in August.
Monthly Average Win Values
| Month | Average Win (xBZZ) |
|---|---|
| April | 3.74 |
| May | 4.26 |
| June | 4.87 |
| July | 5.44 |
| August | 6.23 |
| September | 8.51 |
The average win value rose to 8.51 xBZZ in September from 6.23 xBZZ in August, remaining close to the median.
Active Staking Node Monthly Average Earnings
| Month | Avg Earnings per Node (xBZZ) |
|---|---|
| April | 6.78 |
| May | 8.64 |
| June | 9.73 |
| July | 11.14 |
| August | 12.78 |
| September | 16.67 |
Average earnings per active staking node were 16.67 xBZZ in September, up from 12.78 xBZZ in August and the highest level in the period shown.
Total Active Staking Nodes by Month
| Month | Active Staking Nodes |
|---|---|
| April | 1,808 |
| May | 1,665 |
| June | 1,649 |
| July | 1,648 |
| August | 1,635 |
| September | 1,663 |
The number of active staking nodes was 1,663 in September, up from 1,635 in August and the first monthly increase in the period shown.
Total Reachable Full Nodes Regardless of Active Status
| Month | Reachable Full Nodes |
|---|---|
| April | 4,098 |
| May | 3,851 |
| June | 3,693 |
| July | 3,739 |
| August | 3,728 |
| September | 3,900 |
Total reachable full nodes were 3,900 in September, up from 3,728 in August and the highest count since April.
Total Winning Nodes by Month
| Month | Winning Nodes |
|---|---|
| April | 1,434 |
| May | 1,367 |
| June | 1,388 |
| July | 1,351 |
| August | 1,337 |
| September | 1,383 |
The number of nodes winning at least once rose to 1,383 in September from 1,337 in August.
Total Active Staking Nodes by Country
| Country | Active Staking Nodes |
|---|---|
| Finland | 1,346 |
| Germany | 236 |
| Canada | 60 |
| United States | 6 |
| Ireland | 4 |
| Estonia | 3 |
| South Korea | 3 |
| Cyprus | 1 |
| Italy | 1 |
| Norway | 1 |
| Singapore | 1 |
| Switzerland | 1 |
Active staking remained heavily concentrated in Finland, which hosted 1,346 of the active nodes (up from 1,304 in August), followed by Germany (236, down from 247) and Canada (60); every other country contributed fewer than ten nodes each, and all active nodes could be attributed to a country this month.
Total Nodes By Country Regardless of Staking Status
| Country | Reachable Full Nodes |
|---|---|
| Germany | 2,493 |
| Finland | 1,317 |
| Canada | 61 |
| France | 5 |
| Estonia | 3 |
| South Korea | 3 |
| United States | 3 |
| Czechia | 2 |
| Singapore | 2 |
| Slovenia | 2 |
| Australia | 1 |
| Austria | 1 |
| Brazil | 1 |
| Cyprus | 1 |
| Italy | 1 |
| Norway | 1 |
| Portugal | 1 |
| South Africa | 1 |
| The Netherlands | 1 |
Reachable full nodes were led by Germany with 2,493 (up from 2,320 in August) and Finland with 1,317, which together accounted for 3,810 of the 3,900 total; Canada (61) followed, while France fell to 5 from 23 and all remaining countries hosted three or fewer nodes each.
Conclusion
In September, reward-related metrics continued to rise: total network rewards, median and average win values, and average earnings per active staking node all increased relative to August, with total rewards recording a fifth consecutive monthly increase and both total rewards and average earnings per node reaching their highest levels in the period shown. Participation also increased across all three counts — active staking nodes, total reachable full nodes, and nodes winning at least once each rose from August, with active staking nodes recording their first monthly increase in the period shown. Geographically, active staking remained concentrated in Finland and the broader population of reachable full nodes continued to be led by Germany, consistent with recent months.
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