The difficulty of mining a Bitcoin has decreased by 7.32%, to 34.24 T following the latest recalculation.
The last time the indicator fell so much was in July 2021.
In addition, the smoothed 7-day moving average hashrate now amounts to 252 EH/s. The hash price continues to update all-time lows, currently standing at about $0.06. A further decline in mining profitability may “squeeze out” even more market participants from the market.
According to Glassnode experts:
“Amid falling coin prices, rising electricity costs and a debt burden, the mining industry is in a state of extreme stress.”
