PANews August 1 news, according to CoinDesk, Bitcoin mining difficulty has dropped to 126.23 T, down about 14% from its January peak this year, and a year-on-year decline of about 1.1%, marking the second year-on-year negative growth in network history. This difficulty reduction was mainly driven by weak mining economics: Bitcoin price declines, continually compressed revenue, plus the diversion of capital and power resources to AI and high-performance computing, jointly constrained hashrate expansion. Additionally, power curtailments in Texas and operational disruptions at other mining sites also had an impact.
Although the difficulty drop has eased some competitive pressure for miners still operating, the revenue side has not seen significant improvement. Hashprice currently stands at $31.7/PH/day, while forward market data shows the average expectation through December is only $31.85, indicating limited room for miner revenue recovery within the year.
