Bitcoin hashrate slips below 1 ZH/s as AI computing pulls power

StandardHash CEO and founder Leon Lyu wrote in a post on X that some miners are reallocating power capacity toward AI computing because margins there can be more predictable. Large mining sites already have assets that are expensive and time-consuming to build from scratch, including grid access, reliable cooling, and supporting infrastructure. Those same facilities can be repurposed for the high-performance computing needed to train and run neural networks.

Lyu also noted that the true hashrate could be higher than published estimates. In his view, Bitmain may be bringing some capacity online quietly through secondary channels and partnerships, which would make network estimates look understated.

Mining is already operating in a tough environment. In late 2025, analysts called conditions for miners some of the hardest in years, pointing to weaker revenue and accumulated debt. At the same time, there has been a bit of relief in recent weeks: mining difficulty has been reduced several times since mid-November (roughly from 156 trillion to 146.5 trillion), and hashprice, based on industry metrics, has edged higher over the past month.

External pressures are adding to the strain as well. Analysts have linked miners’ challenges to Bitcoin’s pullback from all-time highs, rising energy costs, and elevated difficulty that stayed near record levels for an extended period. In the end, it comes down to a simple equation that includes the coin’s price, the cost of electricity, and hardware efficiency. If any one of those inputs moves the wrong way, miners start looking for alternatives, including AI contracts and HPC.