Bitcoin Hashrate Sees Sharp Decline
Recent data shows the 7-day moving average of Bitcoin's hashrate has dropped to 993 EH/s, marking the lowest level since mid-September. Since peaking at 1,157 EH/s on October 19, the hashrate has fallen by nearly 15%.
Impact of AI Boom on Hashrate Distribution
Leon Lyu, founder of Standard Hash, noted that some Bitcoin miners are reallocating power resources to AI computing services in pursuit of higher profit margins. This shift is likely a major factor behind the hashrate decline.
Miner Adaptation and Industry Challenges
Prior reports have highlighted that Bitcoin miners are grappling with falling revenues and rising debt. In this context, transitioning to AI and high-performance computing (HPC) has become a popular strategy for many miners. Despite this, some industry observers believe the actual hashrate may be underreported, as certain companies may be expanding their operations through undisclosed channels.