Bitcoin Mining Difficulty Drops Ahead of Halving Event

Bitcoin mining difficulty has dropped nearly 6% to 83.1 trillion hashes, which is not a good sign for the network's security. However, experts say this is expected in the short term. The drop in difficulty comes just before the upcoming halving event, where miner rewards will be cut in half. This reduction in rewards leads to less efficient miners shutting down their operations. The price of Bitcoin also plays a role in the drop in mining difficulty, as a lower price makes mining less profitable. Despite these challenges, experts believe the network will continue to grow and the price of Bitcoin will rise later in the year.

Sources :

- Decrypt