Bitcoin Mining Difficulty Eases to ~146.4T; Next Recalculation May Lift Difficulty to ~148.2T
Bitcoin’s network difficulty fell to about 146.4 trillion in the first difficulty adjustment of 2026 after average block times ran ~9.88 minutes, slightly faster than the 10-minute target. Trackers (CoinWarz) project the next recalculation on Jan 22, 2026, which could raise difficulty to roughly 148.2T if block times revert to the target. The easing gives miners short-lived relief from margin pressure caused by the April 2024 halving, softer miner hash price and heavy 2025 hardware spending. Miner hash price — daily revenue per unit of hashrate — fell as low as $35/TH/s/day in November and has recently been near $40/PH/s/day, squeezing profitability and prompting some operations to pause. Additional headwinds include elevated energy and equipment costs and U.S. tariff exposure that may cause supply-chain shortages. Difficulty remains below its November peak (~155.9T) despite late-2025 gains. Traders should monitor Bitcoin difficulty, miner hash-price trends, BTC price moves and upcoming difficulty recalculations: isolated dips can briefly improve miner margins, but sustained changes in difficulty or hash rate are needed to materially affect miner sell-side pressure and BTC supply dynamics.
Neutral
The news is neutral for BTC price in isolation. A modest difficulty dip to ~146.4T provides only short-lived relief to miners and does not materially change supply dynamics unless it signals a sustained decline in hash rate or prolonged improvement in miner margins. Key negatives remain: the 2024 halving cut block rewards, miner hash price has softened and hardware plus energy costs are elevated — all factors that can increase sell-side pressure if miners need to liquidate holdings to cover costs. Conversely, the reported decline in difficulty is small and difficulty still sits below November’s peak, so immediate upward price pressure from reduced miner selling is limited. Traders should expect limited near-term impact on BTC price; greater influence would require sustained drops in difficulty or a notable recovery in BTC price and miner revenues. Monitor upcoming difficulty recalculations, hash-price metrics and BTC price action for signs that miner economics are improving or worsening.