Bitcoin Hashrate Falls to 0.888 ZH/s as Difficulty Drops 10.09% and Miners Chase AI
Updated
Updated · Gizmodo · Jun 16
Bitcoin Hashrate Falls to 0.888 ZH/s as Difficulty Drops 10.09% and Miners Chase AI
3 articles · Updated · Gizmodo · Jun 16
Summary
Bitcoin’s 7-day average hashrate has slid to about 0.888 zetahashes per second from a 1.151 ZH/s peak in October, signaling a sharp pullback in computing power securing the network.
Saturday’s 10.09% difficulty cut — the 11th largest downward adjustment in Bitcoin history, according to Galaxy Research — reflected slower block production as lower prices squeezed miner margins.
CoinShares said miners are accelerating into AI and high-performance computing, with listed operators potentially getting as much as 70% of revenue from AI by year-end, up from roughly 30% now.
That shift is already reshaping balance sheets and facilities: CoinShares warned some mining sites will shut, while companies including Cango and Bitdeer have sold bitcoin or exited holdings to fund AI expansion.
Bitcoin rebounded above $67,000 on Monday after a preliminary U.S.-Iran peace agreement, and some industry executives argue reduced mining capacity could later lift mining economics if prices recover.
With miners fleeing to AI, has Bitcoin lost its most crucial supporters and its 'digital gold' status?
As miners chase AI profits, will nation-states become the new guardians of the Bitcoin network?
Bitcoin Mining Faces Historic Hashrate Decline and $70B AI Shift: Implications for Profitability, Security, and Decentralization
Overview
In 2026, Bitcoin’s mining network saw a sharp drop in difficulty, following earlier declines in February and March, as miners left the network due to falling profitability and a broader market downturn. This reduction in hashrate triggered automatic difficulty adjustments, making it easier for remaining miners to earn more per machine. However, many miners are now shifting their focus to more profitable opportunities in Artificial Intelligence and High-Performance Computing, using their existing infrastructure. This strategic pivot is reshaping the mining landscape, impacting Bitcoin’s security, decentralization, and the long-term stability of its network.