This month, there has been a significant change in Bitcoin mining difficulty.

At the beginning of February, a new adjustment occurred at block height 935424, and mining difficulty decreased by 11.16% — the largest single drop since 2021.
Many have not seen such a large change in Bitcoin mining difficulty before.

Looking at the numbers, it’s clear why this happened.
Last month, the total hash rate decreased by 20%, and just last week, it dropped by 11% to 863 EH/s.
Compared to October, when it was 1100 EH/s, this is much lower.
The network’s average computational power is now around 990.08 EH/s.

Why did mining difficulty decrease so rapidly?
The main reason is that Bitcoin’s price has fallen by more than 45% from $126,000.
Continuous selling from ETFs and market risk are putting pressure on miners’ profitability.
Along with this, a winter storm in the US at the end of January forced some miners to reduce their operations to support the local grid.
At one point, hash rate as high as 200 EH/s was shut down.
Therefore, this adjustment in Bitcoin mining difficulty is actually a mixture of market pressure and external factors.