According to CoinDesk citing Glassnode data, Bitcoin's total network hash rate decreased by approximately 4% year-over-year in the first quarter of 2026, marking the first quarterly decline in six years. The current network hash rate is around 1 ZH/s, after five consecutive years of double-digit growth in the first quarter. As the production cost of a single Bitcoin approaches $90,000 and the spot price is about $67,000, mining profits have turned negative. More and more publicly listed mining companies are shifting their capital toward AI and high-performance computing (HPC) infrastructure.