Bitcoin miners’ pressure temporarily eased: network difficulty dropped by 3.34%, the largest drop in three months

Mars Finance News, the Bitcoin network experienced its largest difficulty adjustment in three months on July 5th, with mining difficulty dropping 3.34% to 79.50T. This is the first consecutive two-time difficulty reduction since April 2023 (previously dropping 0.68% on July 2nd), meaning miners can now obtain higher block rewards.

This difficulty adjustment coincides with the US Independence Day holiday, and some mining farms may adjust operations due to electricity price fluctuations

Recent Bitcoin price volatility has led to some old mining machines temporarily shutting down

The entire network's hash rate is currently reported at 583 EH/s, down about 7% from the June peak

Market Impact

Mining company stocks rebounded simultaneously:

Marathon Digital (MARA) rose 11% this week

Riot Platforms (RIOT) rose 9% this week

CleanSpark (CLSK) rose 15% this week

Many mining companies are using the difficulty reduction window to upgrade equipment, with the next generation of mining machines (such as Bitmain S21) expected to be concentrated in delivery during the third quarter. Analysts point out that if Bitcoin price remains above $60,000, this difficulty adjustment could potentially increase miner profit margins by 5-8 percentage points.