Bitcoin's hash rate has fallen to its lowest point in nearly four months, reaching approximately 993 EH/s, according to Hashrate Index data. This marks a significant decline of nearly 15% from the peak of 1157 EH/s recorded on October 19. The drop is attributed to miners reallocating electricity resources to AI computing services, seeking higher profit margins, as noted by Leon Lyu, CEO of StandardHash.
The shift comes amid predictions of a challenging profit environment for Bitcoin miners in 2025, leading some to explore alternative ventures like artificial intelligence and high-performance computing. Despite recent decreases in Bitcoin mining difficulty and improved miner revenue indicators, the competition for electricity and computing resources from AI continues to exert pressure on the Bitcoin network's hash rate.
Bitcoin Hash Rate Drops to 4-Month Low as Miners Shift to AI
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