Miners may experience a good week or so until around 5/12/2022, as difficulty is expected to drop significantly. Estimates suggest that the next difficulty adjustment will drop lower, from 6,13% to 10%. As of now, this change seems to be the biggest drop of 2022 if it surpasses the -5.01% level recorded on July 21.

Bitcoin is expected to fall Level of difficult worth tell

During the difficulty change The latest occurred on 11/20/2022 at block height 764,064, the metric only increased by 0.51%. However, this development pushed the network difficulty to an all-time high of 36.95 trillion. Since then, hashrate average is about 249.1 exahash per second (EH/s) over the past week.

Bitcoin

Block time on 11/28/2022 | Source: REMOVEitinfocharts

Average block time online Bitcoin also slower than usual, recorded between 10.2 minutes and 11.06 minutes on Tuesday morning (Vietnam time). The interval between blocks is much higher since the difficulty change on 11/20, because before that day, the average block time was less than 10 minutes since 9/29.

Bitcoin

Data get a raise Level of difficult expected | Source: REMOVEitcoins OLDlarkmoody

The longer block time shows that the 2,016 blocks mined before the next correction will be slower than the 2 week average. At the time of writing, stats indicate difficulty could drop to as low as 10% on December 5, and figures from .com represents an estimated reduction of about 6,13%.

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Bitcoin

Data adjust Level of difficult expected | Source: .com

Both estimates exceed the largest difficulty drop that the network Bitcoin witnessed for the whole year, with the biggest drop to date being on July 21, approximately -5.01%. Miners are currently processing at the highest difficulty ever recorded and BTC price is 76% lower than the $69,000 ATH achieved on 11/10/2021.

Average Bitcoin Mining Cost 11/28/2022 | Source: macromicro.me.

Mining details from brainins.com and macromicro.me shows that the BTC production cost ($18,360) is higher than the current spot market value ($16,441). In addition, market information from indicates that miners are selling.

already tweets about how the Bitcoin mining sector and industry are “under tremendous financial pressure,” while publishing a mining report the company has published.

“What we found is Bitcoin miners are distributing about 135% of mined coins. This means they are selling their 78K Bitcoin treasury.”

In the second half of the year, publicly listed miners revealed they sold BTC to increase cash reserves and repay debt.

At the time of writing, Foundry USA's 3-day hashrate is around 60.66 EH/s, accounting for 25,45% global hashrate. In 3 days, the largest mining pool Foundry has mined 98 BTC blocks out of 385 blocks discovered by all miners.

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Mining pool distribution for 3 days on 11/28/2022 | Source: Btc.com

Foundry's hashrate is ahead of Antpool, F2pool, and F2pool respectively. Pool and Viabtc. In the past 3 days, the top 5 mining pools have discovered 315 blocks out of a total of 385 blocks.

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