Bitcoin miners received a brief respite as the most recent mining difficulty adjustment on Thursday saw difficulty fall from 152.2 trillion to 149.3 trillion.
However, projections indicate that the next adjustment, scheduled for December 11 at block 927,360, will marginally raise difficulty to 149.8 trillion, according to CoinWarz data.
Profitability under pressure
Despite the slight decrease in difficulty, miner profitability remains strained.
The hashprice—a measure of expected miner revenue per unit of computing power—is hovering around $38.3 per petahash per second (PH/s) per day.
This is just above the record low below $35 PH/s reached in late November, and still under the $40 PH/s threshold that many miners consider break-even.
Industry faces headwinds
The mining industry continues to grapple with regulatory restrictions, rising energy costs, and ongoing geopolitical tensions between the United States and China.
These factors threaten to further disrupt equipment supply chains and raise operational risks for miners.
For a historical look at mining difficulty trends, see the bitcoin mining difficulty historical chart.
US probe into hardware supplier Bitmain
The United States Department of Homeland Security is investigating Bitmain, the leading manufacturer of application-specific integrated circuits (ASICs) for proof-of-work mining, over concerns that its equipment could be remotely accessed or used for espionage.
Bitmain, which holds approximately 80% market share according to the University of Cambridge, faces potential restrictions or sanctions from US authorities.
Such measures could trigger supply chain difficulties, as much of the industry is heavily reliant on Bitmain hardware.
Outlook for miners
Miners must weigh the impact of the anticipated difficulty increase alongside persistent low hashprice levels and the threat of hardware shortages.
The industry’s ability to adapt will be tested as these challenges converge.
