Bitcoin’s network hashrate has slipped below 1 zetahash per second for the first time in four months, even as miner economics have shown signs of improvement.
The seven-day moving average hashrate sits around 993 EH/s, after dipping under 1,000 EH/s on Saturday.
That level is down nearly 15% from the seven-day moving average peak of 1,157 EH/s recorded on Oct. 19.
AI pivot and power competition
StandardHash CEO Leon Lyu said the decline reflects miners reallocating electricity toward AI compute services in search of better margins.
Lyu wrote in a Monday post:
“The Bottom Line: While manufacturers are plugging in their own surplus stock, the net outflow of hashrate confirms the immense pressure on miner profitability. AI isn’t just a trend; it’s actively competing for the grid.”
He also speculated that some manufacturers, including Bitmain, may be deploying surplus machines through opaque or indirect arrangements.
Lyu said that could mean publicly reported hashrate data may understate actual capacity.
Difficulty and hashprice move in miners’ favor
The hashrate drop comes as mining difficulty has fallen four times since Nov. 12, 2025, from 156 trillion to 146.5 trillion.
Lower difficulty reduces the computational work required to find a block.
Meanwhile, bitcoin hash price rose over the past month, from $37.15 to $40 per PH/s per day, signaling improved mining profitability.
Mining economics after the halving
Miner pressure has remained a theme since the most recent block subsidy halving, which cut per-block issuance.
