Analysts: Bitcoin hashrate falls to a four-month low as miners allocate hashrate to higher-margin AI computing services.

According to a report by Cointelegraph on January 19th, the Bitcoin network hashrate fell below 1,000 EH/s for the first time since mid-September. Analysts believe this decline is related to the continued growth in market interest in artificial intelligence (AI). According to Hashrate Index data, the 7-day moving average of Bitcoin's hashrate is currently 993 EH/s and fell below 1,000 EH/s last Saturday. Compared to the 7-day average high of 1,157 EH/s reached on October 19th, the hashrate has now decreased by nearly 15%. Leon Lyu, CEO and founder of StandardHash, attributed the decline in Bitcoin's hashrate to Bitcoin miners reallocating computing power to AI computing services in pursuit of higher profit margins in an article published on X on Monday.