Bitcoin mining difficulty hits 148.36 trillion as revenue falls to lowest since August
In brief
- Bitcoin mining difficulty rose 5.54% on Oct. 29, from 140.58 trillion to 148.36 trillion, per Nodewitness data.
- The Oct. 29 adjustment followed a 5.92% difficulty increase on Oct. 16.
- Mining revenue fell toward $33 per PH/s per day, its lowest since August, CryptoSlate reported.
- Hashrate has climbed 21% since July 17, adding about 185 EH/s, according to Jamie Coutts.
- Expected earnings per unit of unchanged hashrate fell about 10.5% across both adjustments, per CryptoSlate's calculations.
Two adjustments in one month
Bitcoin adjusts mining difficulty every 2,016 blocks (roughly every two weeks) to keep average block time at 10 minutes. Nodewitness data showed the latest move took difficulty from 140.58 trillion to 148.36 trillion, following the 5.92% increase on Oct. 16.
That's a real hit to miner economics. CryptoSlate calculated that the 5.54% adjustment alone cut expected BTC earnings by about 5.24% per unit of unchanged computing power, assuming fees and other conditions stayed the same. Across both October adjustments, the reduction came to about 10.5% by the outlet's math.
CryptoSlate reported that mining revenue has dropped toward $33 per PH/s per day, its weakest level since August.
Hashrate's comeback since July
Real Vision chief crypto analyst Jamie Coutts said the network's 14-day average hashrate fell 23% between its October 2025 peak and February 2026, its steepest decline since China's 2021 mining ban. CryptoSlate attributed that contraction partly to severe winter weather and to concerns that miners were leaving Bitcoin production for AI infrastructure. After an initial recovery, computing power weakened again through July.
Then it turned. Coutts said the trend reversed significantly after July 17, and by his analysis hashrate rose 21% over the next 102 days, adding about 185 EH/s and coming back to within 6% of its previous record. He called it the largest absolute amount of computing power added in a comparable recovery since 2018 (though the percentage gain wasn't exceptional by historical standards). Look Into Bitcoin data showed network computing power at its highest level in seven months.
Where the AI pivot fits
Several publicly traded miners have increasingly shifted their business models toward high-performance computing and AI data centers. CryptoSlate said the network-wide recovery suggested mining capacity was growing elsewhere, possibly offsetting equipment redirected to or retired for AI work. The outlet framed that as a possibility, not a finding.
Coutts sees a security upside in the numbers. He said extra computing power raises the cost of attacking the network, and that miners expanding on thin margins suggests they're continuing to invest in its long-term prospects.
Frequently asked questions
How often does Bitcoin adjust its mining difficulty?
Bitcoin adjusts mining difficulty every 2,016 blocks, roughly every two weeks, to keep the average block time at 10 minutes. The Oct. 29 adjustment raised difficulty 5.54%, from 140.58 trillion to 148.36 trillion, according to Nodewitness data.
How much did the October difficulty increases cut miner earnings?
CryptoSlate calculated the 5.54% adjustment alone cut expected BTC earnings per unit of unchanged computing power by about 5.24%, assuming fees and other conditions stayed the same. Across the two October adjustments, the reduction came to about 10.5%.
How much has Bitcoin's hashrate recovered since July?
Real Vision analyst Jamie Coutts said hashrate rose 21% in the 102 days after July 17, adding about 185 EH/s and coming back to within 6% of its previous record. He called it the largest absolute amount added in a comparable recovery since 2018.
