Bitcoin mining difficulty dipped slightly to 146.4 trillion in the first difficulty adjustment of 2026,

marking a small pullback after reaching record highs throughout 2025. Despite this decline,

average block times are still slightly below the 10-minute target, meaning the next adjustment (Jan 22, 2026) is expected to increase difficulty again to better balance the network.

The mining industry faced severe pressure in 2025, with difficulty peaking near 155.9 trillion, intensifying competition among miners.

Profitability dropped sharply due to the April 2024 halving, rising operational costs, regulatory and macroeconomic challenges, and a late-2025 crypto market downturn.

Miner profitability hit multi-year lows as hash price fell below $35 per PH/s/day, well under the ~$40 breakeven level, forcing some miners to shut down operations.

Additional strain came from US tariffs, supply-chain concerns, and a 30% BTC price drop in late 2025.

Although Bitcoin has since rebounded, it remains below its $125,000 all-time high, leaving miners under continued margin pressure going into 2026.