Bitcoin Mining Difficulty Eases Slightly After Hitting All-Time High
The Bitcoin mining sector faces a strange paradox. On one hand, the mining difficulty is adjusting downwards. On the other, competition intensifies in a market where miners must produce relentlessly. The April 2024 halving has changed the rules of the game. So, are miners producing enough to satisfy investors’ appetite? Or are they folding under economic pressure? It is time for an examination.
In brief
- Bitcoin difficulty slightly falls after reaching an all-time high of 126.9 trillion.
- Hashrate explodes to 700 EH/s, pushing miners to upgrade their costly equipment.
- MARA and CleanSpark mine more bitcoins while choosing not to sell any.
- The 2024 halving halves rewards but catalyzes a strategic restructuring of the mining sector.
Bitcoin mining, an industry in resistance: between record difficulty and computing power
Bitcoin mining difficultyrecently dropped from 126.9 T to 126.4 T. A marginal decrease, indeed, but symbolic, as it comes after a historic record. Since May, the network has shown unprecedented computing power, peaking at 700 EH/s in early June.
Historically, difficulty adjusts the balance between block supply and available power. As more machines activate, the algorithm makes the equation harder to solve. In 2020, hashrate hovered around 120 EH/s. In four years, network power has nearly sextupled.
Faced with this increase in power, miners are adapting. Some resist, others collapse. CleanSpark, for example, increased its production by 9% in May, reaching 694 BTC.
We increased our month-end hashrate to 45.6 EH/s, up 7.5% sequentially, while improving average fleet efficiency. We expanded our Bitcoin treasury to over 12,500 BTC […] We also secured an additional 72 megawatts of contracted power, bringing our total to 987 megawatts […].
Zach Bradford, CEO of CleanSpark
MARA, meanwhile, mined 950 BTC the same month while retaining all of its production. A strategy called “twin-turbo” according to its CFO: produce and hold, without selling.
Halving 2024: sweet nectar or bitter poison for mining?
The 2024 halving halved the reward for each block: now 3.125 BTC. While this algorithmic rule is designed to contain bitcoin inflation, its short-term effects on the industry are brutal.
Smaller miners, dependent on old ASIC models or costly energy sources, find themselves marginalized. Many migrate to cloud mining or join pools to survive. Conversely, industry giants arm themselves. CleanSpark and MARA reinvest in their infrastructure, capitalizing on their technological lead and access to low-cost energy.
The halving thus created a new divide in the ecosystem. On one side, the vertically integrated behemoths. On the other, independents seeking pooling. The reduction in rewards does not signal the end of mining, but a rewriting of its internal rules.
This resilience comes with a paradigm shift: several publicly traded companies choose to keep their bitcoins. Mining is no longer just a cash flow but a strategic accumulation vector. A way to anticipate future price increases.
Heading toward 2026: what to expect for bitcoin and its mining?
Bitcoin oscillates around 105,000 and analysts scrutinize its slightest movements. Yet, beyond the charts, a trend emerges: industrial consolidation and rising institutional investment.
Key signals:
- 1,045 BTC bought by MicroStrategy in May, raising its reserves to 582,000 BTC;
- $1.3 billion injected into Bitcoin ETFs in five days, despite Iran-Israel tensions;
- 59% of global mining operations powered by renewable energies;
- CleanSpark targets 50 EH/s with 100% in-house management by end of June;
- BitFuFu announces a 91% increase in its mining production.
These figures show one thing: the industry adapts, electrifies, strengthens. Rising prices encourage investments but also the transition to cleaner energies. Major players bet on a long-term vision by turning their production into strategic reserves.
Bitcoin resists. Despite volatility, despite crises, it maintains its waterline. Long-term holders continue to buy, reinforcing miners’ strategies who now prefer to hold rather than sell. An unexpected alignment is emerging between patient investors and rational producers. Mining changes, bitcoin adapts, and continues to defy predictions.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
Content Original Link:
" target="_blank">
