Bitcoin hash rate experiences the longest continuous decline since spring 2024

According to a report by Jinse Finance, on January 23, VanEck published an article stating that recently, bitcoin hash rate has experienced its longest continuous decline since the spring of 2024. Bitcoin mining difficulty, estimated power consumption, and hash rate are all declining simultaneously. The 30-day average mining difficulty dropped by 2% from 646 to 635, global miners’ estimated power consumption fell by 2% to 203 terawatt-hours, and the 30-day moving average hash rate has decreased by 6% since its peak in mid-November 2025. This indicates that miners are shutting down their mining machines. VanEck pointed out that a larger and more systemic factor causing the decline in bitcoin network hash rate stems from the deterioration of bitcoin mining profitability. As the power demand for artificial intelligence data centers grows explosively, bitcoin miners are increasingly allocating power resources to the construction of artificial intelligence.