Bitcoin Miners Shift from Mining to AI Computing as Hashrate Declines
By
Kyle Torpey
Summary
Bitcoin miners are increasingly shutting down their mining rigs and pivoting to AI computing as the network hashrate has dropped significantly from its October peak of 1.151 zetahashes per second to around 0.888 zetahashes per second. The decline follows Bitcoin's price drop from its $125,000 all-time high and the recent halving event that reduced mining rewards. Miners are finding better returns by repurposing their hardware and energy infrastructure for AI workloads, which offer more stable and profitable revenue streams compared to the volatile cryptocurrency mining market.
Source
bskyBitcoin Miners Shift from Mining to AI Computing as Hashrate Declinesgizmodo.comKey quotes
· 3 pulledThe amount of computing power pointed at the Bitcoin network has seen a heavy decline since October, with the 7-day average network hashrate falling from an all-time high peak of 1.151 zetahashes per second on October 18th to the most recent estimate around 0.888 zetahashes per second.
It's no coincidence that October was also the month that the bitcoin price hit its all-time high of around $125,000.
Over the weekend, it became 10% easier to mine bitcoin.
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