Coinspeaker
Bernstein: Bitcoin Mining Difficulty Drops 6% Last Week, Biggest Fall since December 2022
Bitcoin miners facing squeezed margins, got relief last week. Mining complexity, which measures the computational work needed to validate transactions and create new coins, saw its biggest drop since December 2022, falling around 6%. Broker Bernstein finds this decline in Bitcoin mining as a positive development for Bitcoin miners.
Photo: Bernstein
Bernstein report states that the decline in difficulty is due to the combination of lower Bitcoin prices and a significant increase in mining equipment costs since the last Bitcoin halving in May 2020. This cost pressure led to the closure of high-cost mining rigs, resulting in a decline in the overall hashrate – the combined computing power securing the Bitcoin network.
Bitcoin Mining’s Strategic Advantage
The report identifies Riot Platforms (RIOT) and CleanSpark (CLSK) as the leading Bitc
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