Overview
- On-chain trackers show the seven-day average hashrate near 978–993 EH/s, the lowest since early September and roughly 15% below October’s peak.
- Another downward difficulty adjustment of about 4% is expected this week, extending a string of mostly negative resets since mid-November.
- Executives and industry data indicate miners are redirecting electricity to AI and high-performance computing to pursue steadier margins.
- Publicly traded operators have begun leasing or retrofitting mining sites for GPUs and data center use, including multi-year deals with chipmakers.
- Grid pressure from rising AI demand is prompting policy moves, with PJM proposing rules that push large new power users to secure supply or accept curtailment.