Overview
- The February 7 retarget cut difficulty by 11.16%, the largest decline since 2021 and the 10th biggest on record.
- Severe winter weather forced multiple U.S. mining facilities offline and a concurrent sell-off pushed bitcoin into the low $60,000s, driving the hashrate drop.
- Network data indicate hashrate has climbed about 20% over the past two weeks, and industry trackers project an approximately 11–12% upward correction next week.
- Miner profitability remains strained, with hashprice hitting a record low near $0.03 per TH/s on February 5.
- Operators are shifting toward AI and data-center services, reflected in Cango’s $75.5 million equity raise, Argo’s court-approved restructuring, Canton’s 12-month moratorium, and ADGM’s formal licensing guidance.