BlockBeats News, January 19 — According to Cointelegraph, Bitcoin network hash rate for the first time since mid-September has fallen below 1,000 EH/s. Analysts believe this decline is related to the ongoing increase in market interest in artificial intelligence (AI).
According to Hashrate Index data, the 7-day moving average of Bitcoin hash rate is currently 993 EH/s, having fallen below 1,000 EH/s last Saturday. Compared to the peak 7-day average of 1,157 EH/s recorded on October 19, the hash rate has decreased by nearly 15% so far.
Leon Lyu, CEO and founder of StandardHash, attributed the decline in Bitcoin hash rate to Bitcoin miners reallocating their hash power to AI computing services in pursuit of higher profit margins, in a post on X on Monday.
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