At the end of November 2023, Bitcoin mining difficulty dropped by 1.95%, falling to 149.3T. This means miners now need to compute about 149 trillion hash functions to add a new block to the network and receive a reward of 3.125 BTC (approximately $285,000 at the current rate). The difficulty is recalculated every two weeks to maintain a stable issuance rate of new bitcoins regardless of changes in network power.
What Is Bitcoin Mining Difficulty and How Is It Calculated?
Mining difficulty determines how hard it is for miners to find a new block on the Bitcoin network. This metric is automatically adjusted every two weeks based on the total hashrate—the combined computing power of all devices mining Bitcoin. If the hashrate rises, the difficulty increases to keep the issuance of new coins stable. If the hashrate drops, the difficulty decreases so that blocks continue to be found roughly every 10 minutes.
Current Changes in Difficulty and Hashrate in November 2023
The difficulty decrease on November 27 was the second in a row. Previously, since July, the metric had been rising almost continuously, reaching a record 155T at the end of October. However, after that, a decline began: the peak hashrate was recorded on October 24 at 1.31 Zh/s, and by November 27, the average three-day hashrate had dropped to 1.07 Zh/s. This fall is due to some miners shutting down outdated and unprofitable equipment, leading to reduced network activity.
Expert Opinion: Anton Gontarev on Mining Market Changes
Intelion’s Commercial Director Anton Gontarev notes that the drop in difficulty and hashrate is a predictable system response to reduced network power. In the past two weeks, the average block discovery time exceeded the target 10 minutes, and declining profitability along with market volatility forced some operators to take inefficient devices offline. According to the expert, such adjustments allow the market to cleanse itself: only miners with low production costs and modern infrastructure remain. See also: Why Bitcoin Mining Difficulty Dropped in December 2025
Gontarev emphasizes that the current situation is more of a technical adjustment than a fundamental reversal. Usually, these periods last one or two recalculations, after which things stabilize. For operators with cheap energy and reliable infrastructure, this creates extra opportunities: reduced competition increases margins even in a volatile market.
Forecasts and Impact on the Cryptocurrency Market
According to platforms tracking difficulty recalculations, it is expected that in two weeks the metric will decrease by another 0.4%. However, if the hashrate starts to grow, this forecast may change. The impact of difficulty changes on miners’ profitability directly depends on their costs and equipment efficiency. Meanwhile, the Bitcoin price has again surpassed $90,000, supporting mining interest even as difficulty drops. See also: Why Did Bitcoin Mining Difficulty Drop by 2.37% in November 2023?
Why This Matters
A decrease in mining difficulty makes the task easier for active miners, especially those using modern equipment and with access to cheap electricity. This can temporarily boost profitability, but also indicates that some market participants are forced to shut down unprofitable devices. For miners in Russia, it’s important to note that such adjustments occur regularly and reflect the balance between network power and the economic feasibility of mining.
What Should You Do?
- Assess the efficiency of your equipment and mining costs—you may need to upgrade your hardware.
- Monitor hashrate trends and difficulty forecasts to respond promptly to market changes.
- Use periods of lower difficulty to increase your share of mining, if conditions allow.
- Plan expenses with possible fluctuations in profitability and Bitcoin price in mind.
