Bitcoin Mining Difficulty Reaches Record High of 114.17 T

Following the latest recalibration, the difficulty of mining the leading cryptocurrency surged by 5.61%, setting a new all-time high at 114.17 T.

During the previous adjustment two weeks ago, the metric declined for the first time since September 2024. Experts at Luxor attributed the correction largely to colder weather in the United States, where local miners faced rising electricity costs and reduced uptime.

According to Glassnode, on February 7, the hash rate (smoothed by a seven-day moving average) peaked at 844.95 EH/s. At the time of writing, it had adjusted to 827 EH/s.

Data from Hashrate Index indicates that the hash price fell to around $57 per PH/s per day from approximately $62 at the end of January.

Mining profitability is under pressure from a decline in Bitcoin’s price (over 6% in a week) and a drop in transaction revenues. According to CryptoQuant specialists, on-chain activity in the Bitcoin network has fallen to a yearly low.

Analysts at Fidelity suggested that the trend of decreasing fee share in miners’ revenue could become long-term. However, they believe this does not pose a threat to blockchain security.