BTC prices are not the only thing in decline at the moment. Following recent record highs, the Bitcoin hash rate is also decreasing sharply.

The Bitcoin hash rate has declined by around 14% since its all-time high earlier this month. The current hash rate is 234 EH/s (exahashes per second), according to Blockchain.com. Furthermore, there has been a sharp slump in the metric since Nov. 22, with 11% lost in a week.

According to industry outlet Hashrateindex, a supply shock of miners and lenders dumping machines could put significant downward pressure on the ASIC market.

(By Martin Young)