Bitcoin mining difficulty drops 3.34% after halving

Bitcoin mining difficulty has dropped by 3.34% — the biggest decline since the halving, potentially offering a temporary «breather» for miners. The new level settled at 119.18 T after the latest adjustment on May 4.

Profitability Rises as Difficulty Falls

The network's average hashrate reached 885.12 EH/s, according to the latest data from Glassnode — the 7-day smoothed moving average hit 886 EH/s.

Amid the drop in mining difficulty, Hashrate Index reports that the hashprice rose above $50 per PH/day, which is a positive signal for market participants following the recent reduction in block rewards.

As a reminder, in April, the Vilonia City Commission (Arkansas, USA) unanimously rejected a proposal to open a cryptocurrency mining facility in the city. This is yet another example of regional pressure on the industry from local authorities.