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Bitcoin hashrate stays below record for 316 days amid AI-linked mining shift
Network hashrate averaged about 914 EH/s on Aug. 31, around 20.6% below the Oct. 2025 peak, while mining difficulty and revenue metrics point to weaker economics even as BTC rebounded.
Bitcoin hashrate has spent 316 days below its record as some miners redirect power and capacity toward artificial intelligence and high-performance computing loads, according to CryptoSlate. On Aug. 31, the seven-day network average was near 914 exahashes per second, about 20.6% below its October 2025 peak of 1,151.6 EH/s.
CryptoSlate reports the latest stretch without a new hashrate high is the longest in a decade, exceeding a prior 252-day maximum in the same Blockchain.com series. The slowdown followed months of weak mining economics, summer power curtailments, and a growing shift by some operators away from Bitcoin mining toward AI and HPC.
CryptoSlate notes that the episode has been described as a sustained “economic hashrate bear market.” That framing has gained attention because Bitcoin already saw a price rebound, with BTC rising 34.9% from late June through late August to above $81,000, even as network hashrate fell 10.1% over the same period.
VanEck estimated network hashrate at roughly 885 EH/s in the week through Aug. 11, while mining difficulty was 18.3% below its November 2025 peak. CryptoSlate also cited the Puell Multiple averaging about 0.73 over the prior 30 days, placing it in the 16th percentile, and said difficulty rose 1% on Aug. 8 and later fell 1.31% on Aug. 23.
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