On January 19, according to Cointelegraph, the total network hash rate of Bitcoin recently dropped below 1 ZH/s (1,000 EH/s), the lowest since September 2025. Analysts point out that miners are shifting their electricity resources to AI and high-performance computing sectors due to profit pressures. Although mining difficulty has been adjusted downward four times since November last year, and the hash rate unit price has risen to $40 per PH/s/day in recent months, the overall hash rate has still declined by nearly 15% from its October high. Founder of Standard Hash stated that AI has become a practical electricity competitor, intensifying survival pressure on mining companies.

$BTC $ETH Short-term Impact
Temporary increase in selling pressure: inefficient mining machines are shut down, and some miners are passively selling BTC to recover funds, especially when prices fall below cost.
Network confidence and liquidity are under pressure: the decline in hash rate raises concerns about attack risks, short-term capital is fleeing for safety, and volatility is increasing.
#加密市场观察 #2026年比特币价格展望