Bitcoin Mining Difficulty Retreats from Historic High

Following the latest recalculation, the difficulty of mining the leading cryptocurrency has decreased by 2.12%. The metric adjusted to 108.11 T from its previously reached peak.

This marks the first decline in the metric since September 2024.

According to Glassnode, on January 2, the hash rate (smoothed by a seven-day moving average) reached a peak of 818.7 EH/s. It subsequently adjusted to 766 EH/s.

Data from Hashrate Index indicates that over the past 24 hours, the hashprice fell by approximately 3.8% — from $60.3 per PH/s per day to $58.

The primary driver of the decline in mining profitability was the drop in Bitcoin’s price below $100,000.

Throughout January, miners’ daily revenue remained in the range of ~$42-49 million, according to The Block. This figure is approximately 1.5 times higher than the values seen in autumn 2024, yet it falls short of the levels reached before the April halving.

Analysts at Fidelity have suggested that the trend of declining transaction revenues for miners could become long-term, they posited. However, they believe this does not pose a threat to blockchain security.