Bitcoin Mining Difficulty Drops By 5% As Market $BTC Price Remains Below $58,000

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Data presented by the Hashrate Index indicates that the 5.62% drop in Bitcoin mining difficulty is the biggest since May. However, the data revealed that mining difficulty had risen since Jan 2024 (70.34T), with the largest spike experienced in February. Coinwarz data disclosed that the highest difficulty was recorded at 88.10T between April and May. 

Also read: Miner ‘capitulation’ in the Bitcoin network nears FTX implosion levels, CryptoQuant 

According to Coinwarz, Bitcoin’s current mining difficulty (79.5T at block 851, 050) has not changed in the last 24 hours. Coinwarz claims that the next difficulty adjustment will be on July 19, in 12 days. 

Notably, Coinwarz revealed a 5% decrease in Bitcoin mining difficulty in the last 7 days, a 5.11% decrease in the past 30 days, and a 4.37% decrease in the last 90 days.

Bitcoin mining profits remain uncertain as prices fluctuate

👷‍♂️ Today, the #Bitcoin mining difficulty was reduced by 5%, to 79.50 T.

In the current difficulty epoch, what will profitability be at different price levels? Refer to the table below.