Bitcoin miners' pressure eases: network difficulty decreased by 3.34%, the largest drop in three months.

According to the currency network, the Bitcoin network ushered in the largest difficulty adjustment in three months on July 5, and the mining difficulty decreased by 3.34% to 79.50T. This is the first time since April 2023 that there have been two consecutive difficulty reductions (after a 0.68% drop on July 2), meaning that miners can now receive higher block rewards. This difficulty reduction coincides with the Independence Day holiday in the United States, and some mining farms may adjust their operations due to electricity price fluctuationsThe recent Bitcoin price fluctuations have caused some old mining machines to be temporarily shut down, and the computing power of the whole network is now reported at 583 EH/s, a decrease of about 7 (MARA)% from the peak in June (RIOT) Up 9% WeeklyCleanSpark (CLSK) Up 15% WeeklyMore miners are taking advantage of the difficulty reduction window to upgrade their equipment, and it is expected that the next generation of mining machines (such as Bitmain S21) will be delivered in the third quarter. Analysts point out that if the price of bitcoin remains above $60,000, this difficulty adjustment could increase miners’ profit margins by 5-8 percentage points.