Bitcoin mining complexity has dropped to its lowest level in a year

Experts have recorded the biggest drop in the complexity of bitcoin mining in a year — the level of difficulty of mining ETH dropped by 5%, which was the third drop in a row and the largest since 2021.

The complexity of bitcoin mining is affected by changes in the ETH mining hashrate, which is currently unstable. Recently, bitcoin mining capacity fell by 27% due to the temporary suspension of cryptocurrency mining in Texas caused by the heat wave.

Recently, the largest cryptocurrency miners in the state of Texas announced a temporary suspension of cryptocurrency mining due to the abnormal heat wave this summer. Recently, the temperature in Dallas exceeded 100°F (about 37°C). Among the miners that stopped their work: Argo Blockchain PLC, Riot Blockchain, Core Scientific. It is currently unknown when exactly miners will be able to resume cryptocurrency mining. At the time of writing, some miners have resumed their work.