Bitcoin Network Difficulty to Increase Amidst Mining Profitability Challenges

The Bitcoin network difficulty is set to increase in the upcoming adjustment, according to ChainCatcher, from approximately 149.3 trillion to roughly 149.8 trillion. This rise signifies a more competitive mining environment. Simultaneously, hashprice, a key indicator of miner profitability, has dropped to near-record lows, with daily earnings per PH/s around $38.3. This figure falls below the breakeven point for many miners. Industry analysts foresee this combination leading to further profit margin squeeze for miners. Smaller operators or those with higher electricity expenses may be forced to shut down, potentially accelerating industry consolidation.