Bitcoin mining difficulty drops by most since 2021 as miners capitulate

Miners are facing significant challenges, with bitcoin revenue per petahash falling by half from a peak of $70 to $35. What to know : Bitcoin's mining difficulty dropped 11%, the largest decline since China's crackdown in 2021, driven by plummeting prices and severe winter storms in the U.S. Miners are facing significant challenges, with bitcoin revenue per petahash halving to $35 from a peak of $70. The difficulty drop serves as a self-correcting mechanism that could increase profitability for remaining miners and potentially signal a market capitulation phase.