Crypto Journalist
Amin Ayan
Crypto Journalist
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Bitcoin’s network hashrate has slipped below 1,000 exahash per second (EH/s) for the first time since mid-September, as miners increasingly redirect capacity toward artificial intelligence infrastructure.
Key Takeaways:
- Bitcoin’s hashrate has slipped below 1,000 EH/s, down nearly 15% from its October peak.
- Miners are shifting power toward AI workloads that offer steadier returns.
- AI is now directly competing with Bitcoin mining for compute and energy.
Data from Hashrate Index shows the network’s seven-day moving average declined to about 993 EH/s after briefly dipping below the 1 zetahash per second mark over the weekend.
The pullback marks a near 15% slide from the cycle high of roughly 1,157 EH/s reached in mid-October, pointing to a tangible reduction in active mining power.
Miners Shift Power to AI as Bitcoin Mining Margins Tighten
Industry participants say the move reflects changing economics rather than waning confidence in Bitcoin mining.
Leon Lyu, founder and CEO of StandardHash, said miners are reallocating electricity toward AI and high-performance computing workloads that currently offer more predictable margins.
Large-scale mining facilities, designed with substantial power access and cooling capacity, can be repurposed relatively quickly to support data-center style operations.
The shift follows a prolonged period of pressure on miner profitability. Trade publication TheMinerMag previously described 2025 as one of the toughest margin environments on record, citing weaker revenue and rising debt burdens across the sector.
Against that backdrop, AI compute has become an increasingly attractive alternative, especially for operators seeking to stabilize cash flow.
Lyu cautioned that reported hashrate figures may understate actual activity. He suggested Bitmain, the world’s largest mining hardware manufacturer, could be deploying machines through secondary channels or private partnerships that are not immediately visible in public metrics.
If accurate, that would mean some capacity remains active but is not fully captured by standard measurements.
The hashrate decline has occurred despite recent tailwinds. Bitcoin mining difficulty has adjusted downward four times since mid-November, lowering the computational work required to mine blocks.
At the same time, hashprice, a benchmark for miner revenue, has climbed from around $37 to $40 per petahash per second per day over the past month, signaling improving economics.
Even so, the latest data underscores a broader trend. As competition for power intensifies, artificial intelligence is no longer a side project for miners but a direct rival for compute, reshaping how capital and energy are allocated across the Bitcoin mining industry.
Study Challenges Bitcoin Mining Energy Criticism
Bitcoin mining can strengthen electrical grids and lower consumer electricity costs rather than strain power systems, according to a detailed analysis by independent researcher Daniel Batten.
His research challenges common claims that mining destabilizes grids or drives up energy prices, drawing on peer-reviewed studies and operational data to argue that the industry’s flexible power usage can provide measurable system benefits.
Meanwhile, Bitmain is cutting prices aggressively across multiple generations of Bitcoin mining hardware as pressure builds across the mining sector, according to recent promotional campaigns and internal price lists circulated to customers.
One promotion dated Dec. 23 offered a package of four S19 XP+ Hydro units paired with an ANTRACK V2 container, implying an effective price of roughly $4 per terahash for the 19 J/TH machines.
