- Since the beginning of the year, the indicator has grown by 30%
- This was due to the influx of new miners and capacities
- But in 2 weeks the difficulty dropped from 48.71 tons to 48.01 tons
As analysts predicted, the new BTC mining difficulty correction turned negative. This is evidenced by the data btc.com. After the next recalculation, the indicator fell by 1.45%, to 48.01 T. And the average network hashrate is 343.07 EH / s.
This means that the processing power on the network has decreased slightly, making it easier (read: cheaper) to mine new blocks.
Why did mining difficulty drop?
To answer this question, we must first analyze the reasons for the previous growth. Mining difficulty has increased by 30% this year and at some point reached a record.
This indicator increases when more miners (computing power) appear, and vice versa – decreases when miners leave.
In 2023, we saw an influx of new miners driven by the BTC price surge. Also, many companies have supplied more modern units with higher capacity.
The recent drop in mining difficulty is also due to several factors. Firstly, this is a tough US policy, which forces many companies to stop their activities and look for new regions. Secondly, in recent days we have seen a correction in the market. This means that weaker competing miners could leave the network.
The BTC mining difficulty level is recalculated every 2016 blocks (approximately every 2 weeks). Experts expect the new metric to be 0.3% higher and reach 48.15 T.