Bitcoin's 7-day average hashrate just dipped below 1 ZH/s—the lowest level since September 2025. It's a telling sign of the squeeze miners are facing right now. The pressure isn't just coming from within the mining sector anymore; competition for power resources has intensified as AI infrastructure demands skyrocket. This hashrate pullback reflects miners struggling to justify operations in an environment where electricity costs are climbing and alternative industries are bidding aggressively for the same energy supply. Whether this marks a temporary adjustment or signals deeper structural challenges for Bitcoin's mining ecosystem remains a key question for the network's long-term security.