Analyst: Bitcoin hash rate falls to a 4-month low as miners allocate hash power to more profitable AI computing services

According to Cointelegraph, the Bitcoin network's hash rate has fallen below 1,000 EH/s for the first time since mid-September, and analysts believe this decline is related to the growing interest in artificial intelligence (AI) in the market.

According to Hashrate Index data, the 7-day moving average of Bitcoin's hash rate is currently 993 EH/s, having dropped below 1,000 EH/s last Saturday. Compared to the 7-day average peak of 1,157 EH/s recorded on October 19, the hash rate has decreased by nearly 15%. Leon Lyu, CEO and founder of StandardHash, attributed the decline in Bitcoin's hash rate to miners reallocating their hash power to AI computing services in pursuit of higher profit margins in an article posted on X on Monday.