Bitcoin’s mining difficulty surged 14.73% at block height 937,440 on Thursday, reversing an 11.16% decline recorded just two weeks earlier and underscoring the network’s rapid self-correction mechanism.
The previous adjustment on Feb. 7, at block 935,424, marked the sharpest downward move since 2021, when China’s mining ban reshaped global hashrate, as an Arctic storm forced US miners to curtail operations and reduce grid strain.
With operators returning online at full capacity, hashrate climbed past 1 zettahash per second, compressing block times below the 10-minute target and triggering the latest upward recalibration.
The 14.73% increase not only erased the prior decline but ranks among the steepest gains since May 13, 2021, when difficulty jumped 21.53%, with other notable increases above 13% recorded in October 2022.
Despite the surge in hashrate and faster block production, miner economics remain strained, with hashprice sitting at $29.30 per petahash per second, levels not seen since Bitcoin traded in single digits.
Higher difficulty under weak revenue conditions tightens margins further, raising pressure on operators already navigating multi-year lows in mining returns.
The latest adjustment highlights Bitcoin’s mechanically precise design, recalibrating every 2,016 blocks regardless of miner profitability, leaving the sustainability of current hashrate levels dependent on whether revenue conditions improve.
At the time of reporting, Bitcoin price was $67,840.82.