Bitcoin network hashrate falls below 1000 EH/s for first time in four months

The Bitcoin network's hashrate has dropped below 1000 EH/s (1 ZH/s) for the first time in four months, Cointelegraph reported. According to data from the Hashrate Index, the network's seven-day average hashrate is currently 993 EH/s. This figure marks a 15% decrease from the peak of 1157 EH/s recorded on Oct. 19 of last year. Analysts suggest the decline is likely due to BTC miners reallocating power to artificial intelligence (AI) investments in pursuit of higher returns.