The Bitcoin mining sector is under intense pressure as declining profitability puts popular mining machines, including Bitmain’s Antminer S19 Pro series, at risk of operating at a loss. With record-high mining difficulty and Bitcoin’s price dipping below $96,000, miners face a brutal profitability squeeze that could force many to shut down operations.

Bitcoin miners are facing tighter margins as the network’s hashprice, a key profitability indicator, nears its one-month low following a record-breaking difficulty adjustment. The latest 5.61% increase in Bitcoin’s mining difficulty has pushed the competition to new levels, reducing miner earnings while Bitcoin’s price struggles to stay above $96,000.

Russia’s deputy energy minister, Yevgeny Grabchak, has proposed the creation of a centralized registry for Bitcoin and crypto mining equipment to enhance regulation and enforcement efforts. This move comes as part of the Russian Ministry of Energy’s plans to update the regulatory framework for mining, focusing on identifying and controling mining activities, especially in prohibited regions.

Bitcoin mining difficulty decreased by 2.12% at block height 880,992.

The difficulty level fell from 110.45 trillion to 108.11 trillion, marking the first decline since September.

Hashprice (revenue miners earn per unit of hashpower) rose slightly to $59/PH/s following the adjustment.

Riot Platforms and Bitfarms have reached a settlement in Riot’s hostile takeover attempt, ending a contentious chapter in the Bitcoin mining sector. The agreement comes ahead of Bitfarms’ special shareholder meeting on November 6 and follows Riot’s acquisition of 19.9% of Bitfarms shares, valued at $180 million as of August.

Hut8 a major North American Bitcoin mining operator, announced an expanded partnership with BITMAIN Technologies Ltd. to launch the U3S21EXPH, a next-generation ASIC miner. This new miner, scheduled for deployment in Q2 2025, will introduce direct liquid-to-chip (DLC) cooling within a U form factor, marking the first time BITMAIN has mass-commercialized a miner with such technology.

Five dormant Bitcoin addresses, each holding 50 BTC mined in January 2009, have been reactivated after over 15 years. These addresses, tied to Bitcoin's early days shortly after the network’s creation, were mined during the so-called "Satoshi era" using CPUs when Bitcoin's difficulty was only 1.

Bitdeer, a major player in Bitcoin mining, hosting, and cloud mining, is set to auction 2,880 units of used Antminer S19 miners as part of its post-Bitcoin halving fleet upgrade. The auction will take place from September 24 to 26, with starting bids at $1 per terahash per second (TH/s), equating to a total starting price of $270,000 for the equipment. The machines, procured between late 2020 and mid-2021, are located in Bitdeer's facility in Tydal, Norway.

Cathedra Bitcoin Inc. has formalized its Bitcoin Treasury Strategy, emphasizing its commitment to maximizing Bitcoin holdings per share for its shareholders. In a memo , Cathedra’s leadership highlighted their belief in Bitcoin’s long-term potential as a dominant global reserve asset and outlined a detailed strategy to grow their Bitcoin reserves while moving away from traditional mining operations.

Research conducted by pseudonymous researchers Mononaut and 0xB10C has revealed findings regarding the extent of Bitmain's influence over Bitcoin mining pools. While it has long been suspected that Bitmain, a leading manufacturer of Bitcoin mining hardware, exerted control over a substantial portion of the mining network, new research confirms that many so-called independent mining pools may actually operate as proxies for Bitmain.

In the latest episode of Rabbit Hole Recap (#322), hosts Odell and Marty Bent delve into a variety of topics, starting with a discussion on Nostr City and the debate over Trump and Kamala. The episode’s highlight comes as they explore the state of Bitcoin mining, discussing current trends, challenges, and potential impacts on the network.

On September 11, 2024, Bitcoin's mining difficulty hit a new all-time high, reflecting an ongoing increase in competition for block rewards. The network's difficulty level, which adjusts every 2016 blocks to reflect changes in mining activity, rose by 3.58% to 92.7 trillion. This surpassed the previous record of 90.67 trillion, set on July 31, 2024.

Bitcoin’s network has achieved a new milestone, with its seven-day average hashrate reaching 700 exahashes per second (EH/s). This record-breaking figure represents a big increase from the previous high of 677 EH/s, which was surpassed late last week and continued to climb over the weekend.

A subsidiary of Tokyo Electric Power Co. (TEPCO) is exploring an innovative solution to prevent renewable energy waste while generating additional revenue—by mining Bitcoin. Agile Energy X Inc., the subsidiary in question, is conducting trials using surplus green energy, such as solar and wind power, to power Bitcoin mining operations.

Applied Digital, a data centre operator specializing in bitcoin mining and high-performance computing (HPC), has successfully secured $160 million in a private placement financing deal. This investment, backed by chip-making giant NVIDIA and other institutional investors, marks a significant step in the company’s expansion plans.

Sergey Bezdelov, president of the Industrial Mining Association, revealed that Russian industrial miners produced a total of 54,000 Bitcoin (BTC) throughout 2023. Speaking at the Eastern Economic Forum in Vladivostok, Bezdelov also discussed the significant tax revenue expected to flow into the Russian Treasury as a result of the booming Bitcoin mining industry.

The Bitcoin network has achieved a new all-time high (ATH) in its hashrate, surpassing 746 exahashes per second (EH/s). This significant milestone demonstrates continued network growth and improved security fundamentals, even as Bitcoin prices have recently dropped below $60,000.

A high hashrate reflects the computational power used to process transactions and mine new Bitcoin blocks. Despite a 10% decline in Bitcoin's price over the past week, the network's hashrate continues to climb, highlighting a notable disconnect between short-term market movements and Bitcoin’s long-term infrastructure health.

Bitcoin's hashrate has experienced a significant surge, causing a notable acceleration in the average block production interval. Halfway through the current difficulty epoch, the hashrate increase has accelerated the average block production interval to approximately 8 minutes and 56 seconds, which is 11.9% faster than the intended 10-minute-per-block interval.