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Bitcoin Mining Difficulty Plunges Amid Extreme Heat and Power Outages

The difficulty level of mining Bitcoin has decreased by 7.48% this morning to 116.96T, marking one of the largest declines since the mining ban in China in 2021. This drop is attributed to miners in the United States halting operations due to intense heat, and unconfirmed reports of power outages impacting miners in Iran, which accounts for up to 4% of the global hash rate.
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AI Analysis

The recent sharp decline in Bitcoin's mining difficulty to 116.96T suggests a substantial impact on the mining ecosystem. Historically, large fluctuations in difficulty are tied to significant events ...

AI Recommendation

Given the current decline in mining difficulty, miners with resilient infrastructure and sufficient cooling systems might find this an advantageous opportunity to increase their operations or capitali...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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