Bitcoin Mining Difficulty will reach a new high, but Miner earnings have fallen to a freezing point.

[Coin World] At the end of November, the Bitcoin network is set to undergo another Difficulty Retargeting. This time, it is estimated to rise from 149.3 trillion to around 149.8 trillion, and the competition pressure in Mining has escalated.

What's more troublesome is that miners are really having a tough time now - the hashprice, which measures mining profitability, has dropped to only $38.3 per PH/s, and it's basically close to the bottom. Many miners' cost lines are far above this figure.

The difficulty is rising, and the profits are falling, which is a double squeeze for miners. Those small-scale miners or those with high electricity costs may not be able to hold on for long and will have to consider shutting down. The entire industry may enter a new round of reshuffling, and only the big players with good cost control will be able to survive this cold winter.