The Bitcoin network difficulty showed a slight increase of 0.04% on Thursday following three consecutive decreases of –0.74%, –1.95%, and –2.37%. This modest recovery contrasts with previous fluctuations and indicates that recent mining disruptions did not cause a mass drop in computational power.
Recent Changes in Bitcoin Network Difficulty
The current adjustment—a 0.04% increase—follows the previously mentioned negative adjustments. The report notes that despite equipment shutdowns in some regions, this did not significantly impact the global network, and the hashrate remains generally stable. The impact of outages in Xinjiang province was discussed in a broader context of mining in China, but overall the difficulty has only seen minor fluctuations.
Economic Conditions for Miners
The latest adjustment keeps the bitcoin hashprice below $38/PH/s, continuing to pressure operators' margins. Over the same period, Bitcoin’s price corrected by about 20%, widening the gap between miners’ revenue and operational costs. Despite historically weak revenue since early November, the network is still supported by a stable hashrate, indicating many participants continue operating even with thin profitability.
Factors Supporting Network Resilience
The network equilibrium is explained by two parallel processes: some operators hold their capacity expecting improved conditions, while outdated or inefficient machines are phased out as new equipment comes online. Additionally, new hardware deliveries help offset the shutdown of less efficient devices. Details on modern models and their efficiency are discussed in reviews, such as the M70 series miners.
Outlook and Risks for Miners
Compared to the record difficulty level at the end of October, the current difficulty is about 4% lower, and the combination of reduced price and low hashprice puts pressure on margins. Historically, such gaps between price and costs have sometimes preceded deeper miner capitulations and sharp difficulty drops, but so far no large-scale capitulation is observed. For insights on what mass operator exits could mean and their impact on price, see the article on miner capitulation.
Why This Matters
If you operate from one to a thousand devices, the current difficulty and hashprice directly affect your farm’s profitability: with hashprice below $38/PH/s, margins narrow significantly, and Bitcoin price declines amplify this pressure. At the same time, a stable hashrate means the network continues to receive protection, and there is no mass equipment shutdown yet, reducing the risk of sudden network stress.
What To Do?
- Assess your current mining costs: review electricity rates and compare them with the current hashprice to understand your real margin.
- Check equipment efficiency: replace older or less efficient models with new deliveries that offer better returns at low hashprice.
- Develop a plan for further price drops: set threshold values at which you will temporarily shut down part of your farms or reduce load to cut expenses.
- Monitor local events that may affect energy availability and farm operations, and consider how regional outages impact the overall network.