Analyst: Bitcoin Hash Rate Drops to 4-Month Low as Miners Redirect Computing Power to Higher-Profit AI Compute Services

BlockBeats News, January 19th, according to Cointelegraph, the Bitcoin network hashrate has dropped below 1,000 EH/s for the first time since mid-September, analysts believe that this decline is related to the continued growth of interest in Artificial Intelligence (AI) in the market.

According to Hashrate Index data, the 7-day moving average of Bitcoin's hashrate is currently at 993 EH/s and fell below 1,000 EH/s last Saturday. Compared to the 7-day average high of 1,157 EH/s set on October 19th, the hashrate has now dropped by nearly 15%.

In an article published on X by Leon Lyu, CEO and Founder of StandardHash, on Monday, he attributed the decline in Bitcoin's hashrate to Bitcoin miners reallocating their hashrate to AI computing services in pursuit of higher profit margins.