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Bitcoin's (CRYPTO: $BTC ) network hashrate, which is the computing power used to keep the blockchain running, has dropped 15% since last October as cryptocurrency miners capitulate.

The average computing power used to secure the Bitcoin network has declined from 1.1 zettahashes per second (ZH/s) in October 2025 to 977 exahashes per second (EH/s) today.

Analysts say the decline indicates that a growing number of crypto miners are switching off machines, or capitulating, as the price of Bitcoin declines and their profitability deteriorates.

With the price of Bitcoin dropping from an all-time high last October of $126,000 U.S. to $92,000 U.S. today, miners have been forced to slow their activity and sell BTC to fund their operations.

However, some analysts see crypto miner capitulation as a contrarian signal, with VanEck noting that periods of miner stress have often preceded Bitcoin price increases.

This time might be different as the current decline in Bitcoin's hashrate is also due to a growing number of miners pivoting toward artificial intelligence (A.I.) computing and data centres.

Companies such as Riot Platforms (NASDAQ: $RIOT ) are selling Bitcoin to fund A.I. and data centre investments, adding to short-term price pressures and hashrate declines, say analysts.

BTC is currently trading at $92,855 U.S., having fallen 11% over the past 12 months.