CryptoQuant analyst warns of pressure on BTC mining: Hashrate falls below key moving average, industry enters adjustment phase.

CoinFeed reported on May 10th that CryptoQuant analyst Darkfost stated in an article published on the X platform that the Bitcoin network hashrate has fallen below the annual average level. The last time a similar situation occurred was in 2021. This change does not pose a significant risk to the Bitcoin network itself, but since the winter storms in the United States this year, the network hashrate has been consistently running below 1 ZH/s, reflecting intensified competition among miners. Some mining companies may have chosen to shut down operations or adjust their business models to improve profitability, as evidenced by Bitfarms' recent business adjustments.