Bitcoin Mining Difficulty Reaches New High of 126.98 T

Following the latest recalibration, the difficulty of mining the leading cryptocurrency increased by 4.38%, reaching a record high of 126.98 T.

Earlier this month, the metric retreated from its previous peak of 123.23 T, dropping by 3.34%. A recovery followed two weeks later, with a 2.12% increase to 121.66 T.

According to Glassnode, the hash rate (7 DMA) stands at 919.3 EH/s. This figure remains below both the all-time high ATH of 925.4 EH/s reached on April 8 and the May peak of 925.3 EH/s.

Data from Hashrate Index indicates that the increase in difficulty has pushed the hash price down from around $57 per PH/s per day to approximately $52.

The approximately 9% decline signifies a return of mining profitability to levels seen in early May, before Bitcoin’s rally above $100,000 to new highs.

At the time of writing, the leading cryptocurrency’s price had fallen below $104,000, exerting additional pressure on mining profitability. Previously, the divergence between hash rate dynamics and Bitcoin’s price raised concerns about the network’s long-term sustainability among some community members. Others viewed the trend as a sign of strong fundamentals for digital gold.

Earlier, Bitmain unveiled its flagship model from the latest series of Bitcoin miners, the Antminer S23 Hydro, boasting an energy efficiency of 9.5 J/TH.