CryptoQuant data shows Bitcoin network computing power has dropped sharply, marking its largest decline since October 2021, amid possible miner challenges.
According to CryptoQuant data on February 1, Bitcoin’s total network hashrate has fallen about 12% since November 11, representing its steepest drop since October 2021. This decline in computing power may indicate heightened stress among miners, potentially linked to rising operational costs or reduced profitability.