Bitcoin Mining Difficulty Drops for the First Time Since July 2021
Published in
Dec 7, 2022
- Bitcoin mining difficulty fell by 7.32% for the first time since July 2021.
- Luxor hashprice shows a 20% fall in mining profitability over the past month.
- The computing power is split between 12 smaller mining pools and five larger ones.
The difficulty of mining a bitcoin block fell by 7.32% today, with miners powering off machines as a brutal bear market eats into profit. The adjustment at block height 766,080 is the most considerable downward shift since July 2021, as confirmed by BTC.com.
Following China’s ban on bitcoin, hordes of Chinese miners began shutting down operations at a time when China was the largest bitcoin mining hub.
