The Bitcoin mining difficulty has risen by 1.44%, reaching 84.38T after a previous drop to 83.14T on May 9th. This increase comes as Bitcoin's price surged above $70,000, indicating more challenging conditions for miners. The difficulty adjustment, occurring every two weeks, aims to maintain a consistent block production time. The upcoming adjustment on June 4th is projected to raise the difficulty by 10.9%. Despite the price recovery and recent halving event reducing block rewards, miners face higher operational costs and the need for efficient hardware. Following a significant drop in mining difficulty earlier this month, some miners benefited from reduced costs. Miner revenues briefly declined post-halving but have since recovered, with hash rate currently at 590 EH/s. The approval of spot Ethereum ETFs and rising crypto prices have contributed to this resurgence in miner profitability. Read more AI-generated news on: https://app.chaingpt.org/news