Mining difficulty in Bitcoin adjusts every 2,016 blocks, making it tougher for miners. This year, 60% of adjustments have been positive, increasing challenges.
With a record hashrate of 755 EH/s and a significant one-day surge, miners are experiencing unprecedented demand for computational power to succeed.
Smaller mining firms face greater challenges due to rising difficulty and capital pressures, often needing to liquidate bitcoin to sustain operations amidst competition.
Despite record high hashrate and intense competition, miners on average are expending 100% of the mined supply, although some paused to retain bitcoin for reserves.
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