Bitcoin mining difficulty declines by 16% as hashrate drop precedes China's crackdown note

Bitcoin's mining difficulty saw a notable decrease around Sunday midnight UTC time as the network's hash rate has dropped significantly even before China's bitcoin mining crackdown comment.

On-chain data shows the network's mining difficulty adjusted to 21.05 Trillion at block height 685,440, which is a 16% drop compared to its recent all-time-high recorded on May 13.

https://www.theblockcrypto.com/linked/106448/bitcoin-mining-difficulty-hash-rate-decline-china?utm_source=coinbase&utm_medium=rss