The hashrate of $BTC has climbed back above 1 zettahash per second on a 7-day average, the first time since March 3, according to BlocksBridge Consulting (10/23). Meanwhile, publicly listed miners are shifting to AI.
The idea going around: if publicly listed miners move to AI data centers, Bitcoin’s security will erode. The numbers tell a different story.
BlocksBridge measured a 23% drop in hashrate produced by publicly listed miners, alongside a 52% increase in AI revenue over one quarter and around $1.5 billion worth of machines relocated. These machines aren’t disappearing: some are being bought by smaller miners with cheaper electricity. As a result, the 7-day average on mempool.space reached around 1,053 EH/s on 10/22.
Difficulty is following suit: +5.92% on 10/16 (140.6 T), with the estimate for the next adjustment around 10/29 hovering near +5.1% (BlocksBridge projects +5.16%). That would bring it to 147.7 T, the highest since early January, but still below October 2025’s record of 156 T.
On the market side: with BTC at $81,669 (Kraken, 14:49 UTC), my calculation comes to around $36.5 per PH/s per day before fees, and about $34.8 after the next adjustment if the price holds steady. More competition means a stronger network, but also thinner margins for the least efficient miners.
By the end of October, there are two possible paths:
- BTC holds above 81K and hashrate keeps rising: the network absorbs the exit of publicly listed miners without stress;
- BTC falls below 80K while difficulty rises another 5%: smaller miners with tight margins become sellers, putting pressure on the price.
For you, is the shift of publicly listed miners to AI a risk to Bitcoin, or decentralization happening on its own?
#Bitcoin #Mining
The idea going around: if publicly listed miners move to AI data centers, Bitcoin’s security will erode. The numbers tell a different story.
BlocksBridge measured a 23% drop in hashrate produced by publicly listed miners, alongside a 52% increase in AI revenue over one quarter and around $1.5 billion worth of machines relocated. These machines aren’t disappearing: some are being bought by smaller miners with cheaper electricity. As a result, the 7-day average on mempool.space reached around 1,053 EH/s on 10/22.
Difficulty is following suit: +5.92% on 10/16 (140.6 T), with the estimate for the next adjustment around 10/29 hovering near +5.1% (BlocksBridge projects +5.16%). That would bring it to 147.7 T, the highest since early January, but still below October 2025’s record of 156 T.
On the market side: with BTC at $81,669 (Kraken, 14:49 UTC), my calculation comes to around $36.5 per PH/s per day before fees, and about $34.8 after the next adjustment if the price holds steady. More competition means a stronger network, but also thinner margins for the least efficient miners.
By the end of October, there are two possible paths:
- BTC holds above 81K and hashrate keeps rising: the network absorbs the exit of publicly listed miners without stress;
- BTC falls below 80K while difficulty rises another 5%: smaller miners with tight margins become sellers, putting pressure on the price.
For you, is the shift of publicly listed miners to AI a risk to Bitcoin, or decentralization happening on its own?
#Bitcoin #Mining