Bitcoin’s mining difficulty dropped this week at block height 685,440 and saw the largest negative drop of the year losing close to 16%. Overall the global hashrate has dropped around 2% since the price fell below the $40k handle. Currently, the mining difficulty is around 21 trillion, and it could drop another 16% in less than two weeks.
Bitcoin Mining Difficulty Slides Close to 16% Down Following 2021’s Largest Epoch Difficulty Rise
The price of bitcoin (BTC) has seen better days and following the drop in price, the hashrate has also slowed down to a certain degree. On May 29, 2021, at block height 685,440 the Bitcoin network’s mining difficulty slid by 15.97%, which is the largest epoch drop of 2021.
It also follows the largest difficulty rise in 2021, which occurred at block height 683,424. At that time, the mining difficulty jumped over 21.5% and the global hashrate was around 179.2 EH/s on May 13.