Bitcoin mining difficulty falls 2.35%

As a result of another adjustment, Bitcoin’s mining difficulty fell by 2.35% to 29.57 T. The metric slipped to levels seen before the May market rout.

The average hashrate over the two-week period since the last adjustment stood at 211.6 EH/s. On June 11, the network’s hashing power (smoothed 7-day moving average) reached a maximum value — 231 EH/s.

As of June 22, hashrate dipped below 200 EH/s.

Arcane Research analysts noted that in May publicly listed mining companies sold all bitcoins mined during the month for the first time. Typically the share of coins sold ranged from 25% to 40%.

Against this backdrop, the Canadian firm Bitfarms announced the abandonment of its strategy of accumulating mined cryptocurrency. The company sold 3,000 BTC and did not rule out selling roughly 14 BTC mined daily.

Marathon Digital Holdings, by contrast, reaffirmed their commitment to the policy of holding the generated bitcoins.

Earlier, the June price drop below $20,000 led to miners’ capitulation and long-term investors, according to Glassnode analysts.

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