Bitcoin hashrate hits seven-month high as AI shift fails to ease mining competition
According to BlocksBridge, Bitcoin’s mining difficulty is rising despite the industry’s AI transition, with smaller operators potentially absorbing equipment abandoned by larger competitors.
According to BlocksBridge, Bitcoin’s mining difficulty is rising despite the industry’s AI transition, with smaller operators potentially absorbing equipment abandoned by larger competitors.
Bitcoin’s network hashrate has climbed to a seven-month high despite major publicly traded miners shifting capacity toward artificial intelligence, suggesting other operators are replacing lost computing power and intensifying competition among remaining network miners.
According to BlocksBridge Consulting’s latest Miner Weekly newsletter, Bitcoin’s seven-day average hashrate has recovered above 1 zettahash per second (ZH/s), equivalent to 1,000 exahashes per second (EH/s), its highest level since March 3.
The shift toward AI has already taken substantial mining capacity offline. BlocksBridge previously reported a 23% decline in publicly traded miners’ realized hashrate, alongside a 52% quarterly increase in their reported AI and high-performance computing revenue. It estimated that the displaced capacity represented roughly $1.5 billion in mining hardware.