On June 29, following the latest recalibration, the mining difficulty of the leading cryptocurrency adjusted by 7.48% to 116.96 T.
This marks the second consecutive decline, with the current drop being the most significant in recent years.
According to Glassnode, the hash rate (7 DMA) plummeted to 799 EH/s from near-record levels.
Data from Hashrate Index indicates that the hash price increased over the past 24 hours from $53 to $58 per PH/s per day. The mining profitability metric has recovered to levels seen at the end of May.
At the time of writing, the price of the leading cryptocurrency is around $107,000, having increased by 4.5% over the week.
Earlier, CryptoQuant noted that Bitcoin miners have increased their reserves by 4000 BTC since April, despite declining revenues. Simultaneously, participants from the “Satoshi era” have shifted towards accumulation.