Bitcoin mining difficulty drops 2.12% as BTC falls below $100K
Hashprice fell by 3,8%
Bitcoin mining difficulty decreased for the first time since September 2024 as BTC price fell below $100K.
According to CloverPool, on January 27, mining difficulty dropped by 2.12% from the previous record of 110.45 T to 108.11 T at block height 880,992, ending an eight-cycle streak of consistent growth.
Mining difficulty automatically adjusts roughly every two weeks or after 2,016 blocks to maintain a steady 10-minute block discovery time. This mechanism ensures the network's stability regardless of changes in miner activity.
When more miners participate and computational power increases, mining difficulty rises. Conversely, if miner participation decreases, difficulty adjusts downward to balance the network load.
Are miners holding out for a price recovery?
The current decrease in Bitcoin mining difficulty indicates a slight decline in overall network activity or computational power among miners following eight consecutive growth cycles.According to Glassnode, on January 2, the hashrate (a smoothed metric of computational power) peaked at 818.7 EH/s before dropping to 766 EH/s.
Mean hash rate in November 2024 - January 2025. Source: Glassnode
Data from Hashrate Index shows that miner revenue (hashprice) over the past 24 hours fell by approximately 3.8% — from $60.3 per PH/s per day to $58. The primary reason for this drop in miner earnings is the decline in Bitcoin’s price.
Bitcoin hashprice Index in January 2025. Source: Hashrate Index
As reported by The Block, miners' daily revenue throughout January ranged between $42 million and $49 million. This figure is roughly 1.5 times higher than autumn 2024 levels but lower than pre-halving earnings in April.
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