Bitcoin Mining Difficulty Adjusts Downward For Second Time In A Row

Bitcoin mining difficulty has been adjusting for a while now. With the hashrate falling as more miners go offline due to declining profitability, mining difficulty has been following pretty much the same trend. The bitcoin mining hashrate had actually touched a new all-time high back in June. But that would be short-lived given the decline in July. Presently, the block production per hour comes out to 5.70, down 7.71% from the previous week’s production rate of 6.18 blocks per hour.