Bitcoin Mining Difficulty Sees Largest Drop Since 2021 Amid Miner Struggles

Bitcoin mining faces hurdles as revenue per petahash plummets from $70 to $35, leading to significant challenges for miners.

Bitcoin miners are encountering severe difficulties in the current market environment, marked by a notable decline in mining revenue. Recent data indicates that the revenue generated per petahash has dropped dramatically, halving from a previous high of $70 to just $35.

This substantial decrease in earnings is forcing many miners to reevaluate their operations, with some even facing the possibility of capitulation. Such a scenario reflects the intense pressure within the mining sector, which continues to grapple with fluctuating market conditions and increased operational costs.