Bitcoin Hash Rate Declines Amid Rising Energy Costs

Bitcoin's hash rate has decreased by approximately 8% over the past week, reaching around 920 EH/s. According to NS3.AI, this decline is attributed to the ongoing conflict with Iran, which has driven up energy prices, thereby exerting additional pressure on miners. The network is anticipated to experience an approximate 8% downward difficulty adjustment, marking the second-largest negative adjustment in the past five years. Rising competition, low transaction fees, and bitcoin price volatility are further compressing miner margins, leading to increased bitcoin sales to sustain operations.