Bitcoin's mining difficulty fell 10.09% over the weekend at block height 953,568, dropping from 138.96 trillion to 124.93 trillion, its lowest level since July 2025. The adjustment occurred as falling Bitcoin prices forced weaker mining operators to power down their equipment. Bitcoin's difficulty automatically recalibrates roughly every two weeks to maintain block times near ten minutes, falling when miners disconnect and rising when they reconnect.
Bitcoin Mining Difficulty Records Second-Largest 2026 Drop
The difficulty adjustment recorded at block 953,568 represented the second-largest negative adjustment of 2026 after February and one of the steepest declines in Bitcoin's history. Galaxy Research confirmed the event in a statement: "Bitcoin just confirmed its 11th-largest downward difficulty adjustment ever: −10.09% (138.96T to 124.93T) at block 953,568, the 2nd-biggest drop of 2026. A ~15% June price slide squeezed miner margins. The epoch ran 15.6 days vs the 14-day target as hashrate came offline."
Bitcoin fell about 15% in June to trade around $64,000, while the network's average mining cost was estimated near $84,300, leaving many miners running at a loss. When revenue falls below the cost of electricity and hardware, operators switch off rigs until conditions improve, a process that mechanically lowers difficulty for remaining miners.
Hashprice Recovers Above Breakeven After Difficulty Adjustment
The difficulty cut boosted the value each unit of computing power earns by roughly 11%. Hashprice, the estimated daily revenue from one petahash per second of power, recovered to about $32.51 after sliding below $28 the previous week, when many operations were running under breakeven.
Because difficulty and reward-per-hashrate move inversely, the 10.09% difficulty drop delivered a corresponding increase in mining rewards per unit of hashrate for operators still running equipment.
Network Hashrate Declined from 1,000 to 893 Exahashes Per Second
As unprofitable rigs switched off, Bitcoin's hashrate slid from more than 1,000 exahashes per second in late spring to about 893 exahashes per second. The thinner hashrate stretched block times beyond eleven minutes before the adjustment pulled them back toward the ten-minute target.
The hashrate decline reflected the exit of weaker operators unable to sustain operations when Bitcoin's price dropped while mining costs remained elevated.
FAQ
What caused Bitcoin's mining difficulty to drop 10.09%?
Bitcoin's mining difficulty fell 10.09% at block 953,568 because falling Bitcoin prices forced weaker mining operators to power down their equipment. When miners disconnect, the network's automatic recalibration mechanism reduces difficulty to maintain block times near ten minutes.
How did the difficulty adjustment affect miner profitability?
The 10.09% difficulty drop increased mining rewards per unit of hashrate by roughly 11%. Hashprice recovered to about $32.51 per petahash per second after falling below $28 the previous week, bringing some operations back above breakeven levels.
What happened to Bitcoin's hashrate during this period?
Bitcoin's hashrate declined from more than 1,000 exahashes per second in late spring to about 893 exahashes per second as unprofitable miners switched off their rigs. The reduced hashrate stretched block times beyond eleven minutes before the difficulty adjustment restored the ten-minute target.
