Bitcoin mining difficulty has decreased by 11.16% to 125.86 trillion at block 935,424, marking the largest adjustment since China’s ban on mining in 2021 and ranking among the top 10 largest drops in history.
The main reason is the overall network hashrate dropping by approximately 20% over the past month, as Bitcoin’s price plummeted over 45% from the peak above $126,000 down to the $60,000–$68,000 range, along with the impact of Winter Storm Fern, which forced many miners in the US to temporarily shut down. The storm alone caused about 200 EH/s of capacity to go offline.
Mining revenue continues to face pressure as the hashprice falls to a record low of $33.31/PH/s/day, below the $40 threshold typically considered the break-even point. Currently, only newer machines like the Antminer S23 remain profitable, while many older devices are approaching or already in loss.
The average cost to mine one BTC is around $87,000, significantly higher than the market price of nearly $69,000, indicating that industry profits are tightening. Although the difficulty reduction helps miners stay afloat with higher rewards, the recovery outlook largely depends on Bitcoin price movements in the coming period.
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