Bitcoin Mining Difficulty Set to Rise in December Amid Low Hashprices

The Bitcoin mining landscape is poised for a significant change as mining difficulty is expected to increase during the next adjustment on **December 11, 2023**. This anticipated rise comes at a challenging time for miners, with hashprice—an essential metric that reflects miner profitability—hovering near record lows.

The upcoming adjustment is projected to occur at block **927,360** around **12:09:34 AM UTC**. Analysts forecast that mining difficulty will rise from **149.30 trillion** to **149.80 trillion**. This adjustment follows a recent decline, where the difficulty decreased from **152.2 trillion** to **149.3 trillion**, leading to an average block time of approximately **9.97 minutes**, slightly below the targeted **10 minutes**.

Despite the temporary relief from the recent drop in difficulty, the hashprice is currently around **$38.3** per petahash per second per day, according to data from Hashrate. This figure is critical for miners, as it impacts their overall profitability. The break-even point for miners is typically recognized at **$40 per PH/s**. With hashprice currently below this threshold, many miners are facing economic challenges.

The Bitcoin mining sector is heavily influenced by various external factors, including supply chain dynamics. The reliance on companies like **Bitmain** for mining equipment places miners in a vulnerable position, especially if restrictions, tariffs, or sanctions are imposed by authorities. Such actions could exacerbate existing supply chain issues.

As the industry braces for the upcoming adjustment, the broader implications for Bitcoin’s market performance are under scrutiny. Miners must navigate the delicate balance between operational costs and potential profitability, particularly with hashprice showing signs of weakness.

In the context of current market trends, Bitcoin’s price has shown some resilience, hovering around **$91,000** at the time of this report, reflecting a **5%** recovery this week. However, the ongoing fluctuations in mining difficulty and hashprice will undoubtedly play a crucial role in shaping the future of Bitcoin mining.

As the industry evolves, miners and investors alike will need to stay informed and adaptable to the shifting economic landscape, especially with the next mining difficulty adjustment on the horizon.