Bitcoin Hashrate Falls Below 1,000 EH/s for First Time Since Mid-September

Bitcoin network hashrate fell below 1,000 EH/s on January 19, marking the first breach of that level since mid-September, Hashrate Index data show. The seven-day moving average stood at 993 EH/s as of last Saturday, down nearly 15% from the peak of 1,157 EH/s recorded on October 19. Leon Lyu, chief executive and founder of StandardHash, said in a Monday post on X that miners have been reallocating computing power from Bitcoin operations to AI computing services to pursue higher profit margins, a shift he described as the reason for the drop.