Bitcoin Mining Hits Breaking Point as Difficulty Plunges 9.13%

CN
21 minutes ago

Key Takeaways

  • Bitcoin’s mining difficulty suffered its third-largest reduction of 2026, signaling deeper trouble beneath the network’s surface.
  • Roughly 100 EH/s vanished from the network as falling prices and shrinking revenue pushed miners toward a breaking point.
  • Even the most powerful mining machines are barely turning a profit, raising questions about who will survive the next shakeout.

At block 975744, mined by Foundry USA on Nov. 14, 2026, Bitcoin’s mining difficulty fell 9.13%, retreating from 148.36 trillion to 134.82 trillion. Of the 23 difficulty adjustments recorded this year, 12 have been downward revisions, with the latest representing the third-largest reduction of 2026.

Several factors contributed to the decline, including bitcoin’s price descent to fresh lows, which further eroded already strained mining revenue. Bitcoin’s hashrate had been comfortably cruising above 1,000 exahash per second (EH/s), but following the market turmoil, around 100 EH/s vanished from the network.

The computational exodus unfolded during the first two weeks of November, pushing block intervals beyond the customary 10-minute target as market downturn intensified, ultimately triggering the large difficulty reduction.

Following the adjustment, block production has quickened, with average intervals now standing at 8 minutes and 43 seconds at press time (8:45 a.m. ET). Nevertheless, even the industry’s most formidable bitcoin mining machines are contending with exceptionally thin daily profit margins.

As of Sunday, Nov. 15, 2026, the five most profitable bitcoin miners are yielding estimated daily earnings of just $4.37 to $8.74, based on electricity costs of $0.10 per kilowatt-hour (kWh). For instance, the Bitmain Antminer S23 Hydro 3U commands the top spot on Saturday, producing 1.16 petahash per second (PH/s) while drawing 11,020 watts at the wall.

At the time of writing, this translates into an estimated daily profit of $8.74 per day. Bitdeer’s Sealminer A4 Ultra Hydro occupies second place with 886 terahash per second (TH/s) and $6.79 in daily earnings, followed by the Antminer S23e Hydro 2U, which delivers 865 TH/s and pockets approximately $5.48 per day.

Rounding out the top five are the Antminer S23 XP Hydro, generating $5.39 in daily profits, and the Antminer S23 Hyd, which manages a comparatively meager $4.37. Once again, bitcoin miners find themselves navigating a ruthless Darwinian reckoning. As marginal operators retreat and mining equipment yields little more than spare change, the industry is gradually concentrating around companies with inexpensive electricity and healthier balance sheets.

The latest difficulty adjustment provides a fleeting reprieve rather than a lasting remedy. Should bitcoin’s price remain under pressure, further miner capitulation, postponed equipment upgrades and an increasingly concentrated mining sector could follow, leaving the industry leaner but considerably less resilient.

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