Bitcoin · CryptoSlate
Bitcoin runs into one of its biggest mining difficulty drops as miner margins collapse
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The Bitcoin network is poised to execute one of the largest downward adjustments to its mining difficulty in its 17-year history this weekend, a stark reflection of the severe margin compression forcing operators to take hardware offline.
Key facts
- Adler said the current level is close to where the metric traded around the 2024 halving, when Bitcoin moved between roughly $55,000 and $68,000
- Data from CryptoSlate shows that Bitcoin has declined nearly 30% year-to-date, a macro downtrend capped most recently by a steep 15% drop in June that dragged the asset into a tight trading range
- For instance, an older-generation Antminer S19j Pro generates 104 terahashes per second (TH/s) while consuming 3,068 watts on stock firmware, resulting in an efficiency rating of 29.5 joules per
- The automated recalibration, scheduled to occur on June 13 at block height 953,568, is projected to slash the network’s difficulty by approximately 10.3%
Summary
01 Bitcoin mining difficulty is set to fall 10.3% on June 13, the network's second-largest drop this year. 02 The cut reflects weaker hashrate as miners hover near breakeven and fee revenue sits at 2019-era lows. 03 But price weakness could keep pressure high, leaving older rigs offline and raising forced-selling risk. The automated recalibration, scheduled to occur on June 13 at block height 953,568, is projected to slash the network’s difficulty by approximately 10.3%.