Bitcoin Hashrate Falls to Lowest Since September Amid AI Mining Shift

TLDR

• Bitcoin’s network hashrate drops below 1,000 EH/s for the first time since September.
• Miners are shifting resources from Bitcoin mining to AI computing for more predictable margins.
• The decline in hashrate represents a nearly 15% drop from the October peak.
• Bitcoin mining difficulty has adjusted downward four times since mid-November.
• Bitmain has lowered prices on Bitcoin mining hardware as the industry faces increasing pressure.

The Bitcoin network’s hashrate has fallen to its lowest level since mid-September, dipping below 1,000 exahash per second (EH/s). This marks a nearly 15% decrease from the peak of 1,157 EH/s seen in mid-October. The decline is linked to a growing shift among miners toward artificial intelligence (AI) infrastructure, as they reallocate resources to meet the demand for high-performance computing.

Miners Redirect Resources Toward AI Computing

The drop in Bitcoin’s network hashrate reflects a strategic shift in how miners are allocating their resources. According to Leon Lyu, founder and CEO of StandardHash, miners are increasingly diverting their electricity toward AI operations. “AI and high-performance computing workloads now offer more predictable margins,” he explained. These workloads are more attractive to miners looking for stable cash flow amidst a challenging Bitcoin mining environment.

Large mining facilities, which are typically built for high energy consumption and cooling needs, can be quickly repurposed for AI computing. This shift comes at a time when Bitcoin mining has faced increasing pressure, with profitability weakening in recent months. Trade publication TheMinerMag reported that 2025 is shaping up to be one of the most difficult years for miners, as both revenue decreases and debt levels rise.

Decline in Bitcoin Hashrate Amid Improving Economics

Despite the decrease in hashrate, recent data shows signs of improving conditions for Bitcoin miners. The mining difficulty has adjusted downward four times since mid-November, making it easier to mine Bitcoin. In addition, hashprice, which measures miner revenue, has risen from $37 to $40 per petahash per second per day over the last month. These factors indicate better economic conditions for miners, even as the overall network hashrate drops.

Still, the decline in Bitcoin’s network hashrate highlights the ongoing trend of miners turning to other profitable ventures. While AI computing is now seen as a more stable option, Bitcoin mining remains a vital component of the digital asset economy. The transition to AI infrastructure, however, shows how miners are adapting to shifting market dynamics and competition for electricity resources.

Bitmain’s Aggressive Hardware Pricing Amid Market Pressure

As miners pivot to alternative sectors like AI, Bitcoin mining hardware manufacturer Bitmain has responded by aggressively cutting prices. A recent promotion dated December 23 offered four S19 XP+ Hydro units at a reduced price, highlighting the increasing pressure within the mining industry. These price cuts, combined with declining hashrates, reflect the tough market conditions that miners are currently navigating.

This strategic move by Bitmain comes as miners seek to adjust their operations to the changing landscape. With power resources becoming more contested, the shift toward AI presents a challenge to traditional Bitcoin mining.

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