According to Bitcoin Magazine Pro, Bitcoin’s hashrate has remained in decline for roughly 287 days, while mining difficulty is now 19.9% below its peak — the third-deepest drawdown of the ASIC mining era. Despite BTC falling about 46% over the past year, some publicly listed miners have gained more than 430%. The report attributes the divergence largely to miners shifting power and data center capacity toward AI and high-performance computing, prompting markets to increasingly value them as AI infrastructure companies rather than leveraged Bitcoin proxies.