Bitcoin Difficulty Adjustment Sees Target Increase Amid Network Stress

The Bitcoin network recently underwent its September difficulty adjustment, which saw the target for miners increase by 1.31 percent to 127.45 trillion at block 965,664.

This adjustment follows a June decline of 10.09 percent that reduced difficulty from 138.96 trillion to 124.93 trillion.

The hashprice currently sits between $32 and $33 per PH/s per day, while mining one Bitcoin costs about $84,300, with the price of Bitcoin itself trading near $65,600.

The network is in a stress zone due to the June price decline, which squeezed miner margins and forced some operators to shut off unprofitable hardware, causing the epoch length to stretch to 15.6 days.