Bitcoin network difficulty falls year over year amid mining headwinds

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Hashrate Index reported that Bitcoin network difficulty and implied hashrate fell year over year for only the second time in history, a reversal last seen in mid-2021 after China's mining ban. Hashprice was $27.67 per PH/s/day in June, within one cent of a February record low, leaving marginal fleets near or below break-even. Difficulty dropped 11.16% to 125.86 trillion on Feb. 7 and another 10.09% in June to 124.93 trillion, as block times slowed and miners exited the network. Causes cited include weak mining economics, AI/HPC expansion, regional outages, Texas curtailments and Iran-related disruptions.

Bitcoin difficulty and hashrate declined year over year for only second time