Bitcoin’s Mining Difficulty Records Second Largest Drop in 2022 Amid Price Correction


Bitcoin’s mining difficulty has recorded its fifth negative adjustment in 2022

According to data provided by, Bitcoin’s mining difficulty has declined by 2.35% over the past two weeks, which marks the second biggest negative adjustment since the start of 2022.

Mining difficulty updates roughly every two weeks to adjust the pace of block production.

Overall, Bitcoin has now recorded a total of five negative adjustments this year.

Mining difficulty tends to decline dramatically during major market downturns. Miners, who are no longer able to turn a profit or even break even, are forced to switch off their equipment. For instance, Bitcoin’s mining difficulty plunged by more than 15% during the coldest days of the crypto winter of 2018 amid the mass exodus of miners.

 Last June, Bitcoin’s mining difficulty collapsed by 27.9% within two weeks, recording the biggest drop in history after the cryptocurrency’s hashrate tumbled due to China’s mining ban.

However, the metric managed to recover and ended up reaching a new all-time high in January. In early May, Bitcoin’s mining difficulty peaked as high as 31.25 trillion on the cusp of a significant market correction.

Bitcoin is currently trading at just $20,400, shedding more than 55% of its value since the start of the year.

According to data provided by Arcane Research, Bitcoin mining firms sold all of the coins they produced in May, which reflects their bearish sentiment.

Miners remain among the most influential market participants due to their vast holdings. Hence, many fear that they may exacerbate the current sell-off.



Please enter your comment!
Please enter your name here

Share post:


More like this

Flash Flood Warning: I25 north of Pueblo, Highway 50 west of Pueblo through 8pm. – Colorado Springs, Colorado

Colorado Springs, Colorado 2022-07-02 19:34:36 – Flash flood warnings...

UPS Reportedly Cancels Accounts Of Gun Dealers Selling ‘Ghost Gun’ — They May ‘Seize And Destroy’ Package

United Parcel Service (UPS) is reportedly terminating the accounts...

Sunflower season starts early for Big Jim Farms – Albuquerque, New Mexico

Albuquerque, New Mexico 2022-07-02 19:37:24 – Albuquerque, New Mexico...

South Indian cotton yarn prices fall amid sales pressure

Cotton thread prices in South India continued to decline....