Core Insights - Bitcoin's mining difficulty experienced an 11.16% drop to 125.86 trillion, marking the largest single negative adjustment since the mining ban in China in July 2021 and the 10th largest negative percentage adjustment in history [2][5] Mining Difficulty and Hashrate - The difficulty adjustment occurred at block height 935,424, with average block times increasing to approximately 11.4 minutes, exceeding the protocol's target of 10 minutes [3] - The decline in mining difficulty was driven by a 20% drop in the network's total hashrate over the past month, with Luxor's Hashrate Index reporting an 11% decrease in the past week to around 863 EH/s, down from previous highs above 1.1 ZH/s [4][5] Market Conditions - Bitcoin's price has fallen over 45% from its all-time high of above $126,000 in October, dropping to around $60,000 before rebounding to approximately $68,800, influenced by high Treasury yields, ETF outflows, and a risk-off sentiment in equities and commodities [5] - U.S. spot bitcoin ETFs have turned net sellers in 2026, indicating a shift in market dynamics [5] External Factors - Winter Storm Fern in late January caused miners in the U.S. to reduce operations, resulting in a loss of approximately 200 EH/s, with Foundry USA's hashrate dropping around 60% [6] Miner Revenue Metrics - Hashprice, which measures expected miner revenue per unit of computing power, reached an all-time low of $33.31 per petahash per second per day on February 2, with a daily average low of $34.91/PH/s/day on February 1, indicating financial pressure on miners [7] - The $40/PH/s/day level is considered the threshold for miners to decide on the viability of continuing operations [7] Equipment Performance - Only the latest Antminer S23 series machines are currently yielding healthy returns, while older models like Whatsminer M6 and Antminer S21 are nearing unprofitability or already operating at a loss [8] Historical Context - The recent adjustment significantly surpasses the previous largest negative difficulty drop of approximately 7.5% in June 2025, which was also related to external factors affecting hashrate [9]

A sharp drop in the Bitcoin blockchain's hashrate, down 10% on Sunday, during this week’s U.S. winter storm, is offering a real-time stress test of a concern long flagged by researchers: mining centralization has turned local infrastructure failures into system-level risks. Hashrate is the amount of computing power available to process transactions required to keep the Bitcoin blockchain running at any given moment. When it drops sharply, the network has less room to process transactions, increasing the ri ...

LATEST: ⚡ Bitcoin's hashrate has been compressing and fell 4% over the month ending Dec. 15, a bullish contrarian signal meaning Bitcoin's price may soon rebound higher, according to VanEck analysts. https://t.co/hclElVifzD ...

Core Insights - VanEck reported a 4% decline in Bitcoin's network hash rate, the largest drop since April 2024, which may indicate a market bottom as companies begin to acquire cheaper Bitcoin [1][2] Group 1: Hash Rate and Mining Economics - The 30-day moving average for Bitcoin's hash rate decreased by 4% after reaching a peak in early November, attributed to government actions in Xinjiang, China, leading to the shutdown of 1.3 gigawatts of mining capacity, affecting around 400,000 mining machines and potentially removing up to 10% of the network's total hash rate [2] - The economic conditions for Bitcoin miners have worsened, with the breakeven electricity price for an S19 XP mining machine dropping to $0.077/kWh in December 2025 from approximately $0.12 a year earlier [3] - Despite poor profitability, many miners continue operations due to their belief in Bitcoin's future, with up to 13 nations reportedly mining with support from their central governments [4] Group 2: Market Behavior and Accumulation - VanEck's research indicates that "miner capitulation" often precedes positive price performance, with negative hash rate growth over a 90-day period correlating with an average Bitcoin return of 72% over the following 180 days, compared to 48% during periods of hash rate growth [5] - Despite a 9% decline in Bitcoin's price over the last 30 days, corporate treasuries significantly increased their Bitcoin accumulation, adding 42,000 BTC between mid-November and mid-December, marking the largest monthly accumulation since July 2025 [6] - Corporate accumulation was led by Strategy (NASDAQ: MSTR), which acquired 29,400 BTC through common stock issuance, while Japanese firm Metaplanet (TSE: 3350) planned to expand its holdings through a shareholder vote for preferred stock issuance for Bitcoin purchases [7]

Core Insights - The Bitcoin network quickly recovered from alleged mining shutdowns in Xinjiang, with only a brief and modest impact on hashrate observed [1] - Initial reports suggested a significant disruption of 100 EH/s due to shutdowns, but data indicates a smaller, temporary effect [2] - The majority of the mining power dip occurred in North America, not primarily in China, with specific drops reported from Foundry USA and Luxor [3] Mining Power Dynamics - Chinese-origin mining pools experienced a combined decline of about 100 EH/s, but this does not confirm that all losses were from Xinjiang, as these pools operate across multiple regions [4] - The rapid recovery of mining power challenges the notion of a long-term drop of 100 EH/s, with most major mining groups returning to pre-peak levels shortly after the incident [5] Industry Resilience - The Bitcoin mining sector remains robust, with the 7-day simple moving average hashrate showing only a marginal decline, and 30-day averages near recent highs [6] - By 2025, Bitcoin's mining power increased from approximately 700 EH/s to over 1 ZH/s (1,000 EH/s), driven by upgrades from large mining companies and expansion into more locations [7]

Bitcoin hashrate is exploding.PRICE FOLLOWS HASH! https://t.co/jM07trsOiE ...

Mining Network - Bitcoin hashrate 正在快速增长 [1] Market Trend - 价格趋势与 Bitcoin hashrate 呈正相关 [1]

Bitcoin hashrate is exploding.PRICE FOLLOWS HASH! https://t.co/5Nd3MCQs4I ...

Bitcoin hashrate keeps setting new highs.PRICE FOLLOWS HASH! https://t.co/H4zMFLVkSv ...

U.S. Bitcoin hashrate growth stalls near 36% in 2025 as AI firms increasingly compete for energy resources https://t.co/R0RolBE4tp ...