Bitcoin Mining Difficulty Drops 10% Amid Slumping Hashrate

The Bitcoin mining difficulty dropped by 10.09% on Sunday, marking the blockchain's 11th-largest downward adjustment and easing some pressure on miners.

According to Galaxy Research, the mining difficulty fell from 138.96 trillion to 124.93 trillion at block 953,568 on Sunday.

This drop is significant, as it means that Bitcoin miners will have an easier time mining blocks, with less competition due to a falling hashrate.

Total hash rate, or the amount of mining computing power, is currently 886 exahashes per second (EH/s) and has fallen 12% so far this month.