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Bitcoin Mining Difficulty Records Biggest Drop of 2022. Here’s Why

Tue, 12/06/2022 - 06:14
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Alex Dovbnya
Bitcoin's mining difficulty has recorded the biggest drop since the implementation of China's mining ban
Bitcoin Mining Difficulty Records Biggest Drop of 2022. Here’s Why
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According to data provided by, Bitcoin’s mining difficulty has plunged by 7.32 %, which is the biggest negative adjustment of the year. 

In fact, the difficulty of mining recorded the most dramatic drop since the summer of 2021. Back then, the industry was reeling from China’s blanket ban on cryptocurrency mining activities that forced local miners to relocate to friendlier jurisdictions. 

At block height 689,472, the Bitcoin network recorded a record-breaking downward adjustment of  27.94%. It was followed by another drop of - 4.81%. However, mining difficulty managed to recover at a relatively fast pace with a total of nine consecutive declines in a row.

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Last month, Bitcoin’s mining difficulty peaked at an all-time high of 35.6 trillion. However, it has declined sharply from that peak now that miners are switching off their machines en mass amid a brutal bear market. 

Due to the double-whammy of declining crypto prices and the advent of more efficient mining machines, many miners are no longer capable of turning a profit.  

As per data, the Bitcoin network is currently on track to record another negative adjustment two weeks from now. 

Each difficulty adjustment occurs every 2,016 blocks in order to make sure that the supply of new coins remains stable. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at