Exchange spring magnet
The magnetostatic energy is the energy stored in the field generated by a material's magnetic moments. The magnet's field reaches its maximum intensity if all the magnetic moments orient in one direction; this is what occurs in a hard magnet. In order to prevent building up the magnetic field, sometimes magnetic moments tend to form loops. That way, the energy stored in the magnetic field can be constrained; this is what occurs in a soft magnet. What determines whether a magnet is hard or soft is the dominant term of its magnetic energy. For hard magnets, the anisotropy constant is relatively large, making the magnetic moments align with easy axis. The opposite case applies to soft magnets, in which the magnetostatic energy is dominant.
Magnetic moment
The magnetic moment is a quantity that represents the magnetic strength and orientation of a magnet or other object that produces a magnetic field. Examples of objects that have magnetic moments include: loops of electric current (such as electromagnets), permanent magnets, elementary particles (such as electrons), various molecules, and many astronomical objects (such as many planets, some moons, stars, etc).