Bitcoin’s mining difficulty has remained below its all-time high for 374 days, according to Mempool.space data checked by Bitcoin.com News. The record of 155.97 trillion was set at block 921,312 on Oct. 29, 2025, and every adjustment since has landed lower. Economist Saifedean Ammous flagged the stretch on Saturday and said it is a new situation for bitcoin mining, noting that the 2011 price crash and China’s mining ban were not as severe by this measure.
A Long Gap, but Not a Weak Network
Difficulty measures how hard it is to find a new block. The network recalibrates it roughly every two weeks, or every 2,016 blocks, so blocks keep arriving near a 10-minute average even as computing power changes. A long run below the peak does not mean Bitcoin is weaker. Hashrate returned to 1 ZH/s in late October after nearly eight months below that level, and blocks are still coming on schedule. What the gap shows, perhaps, is that mining power growth has paused.
How It Compares With Past Shocks
The previous record came after difficulty peaked on Aug. 1, 2011. It did not set a new high until July 30, 2012, a gap of 364 days. The 2021 China mining ban caused a shorter gap: difficulty peaked on May 13, 2021, and recovered by Jan. 21, 2022, about 253 days later. This time the drop was milder. Difficulty bottomed at 124.93 trillion in mid-June 2026 after a 10.09% cut, roughly 20% below the record.
Recovery Stalled Just Short
The gap had been closing. Difficulty rose 5.92% on Oct. 16 and another 5.54% on Oct. 29 to 148.36 trillion, about 4.9% below the peak. But the next adjustment points lower. Mempool.space estimates a drop of about 3.7% when the current epoch ends in roughly six days, which would push any new high further out.
Miners face pressure from bitcoin’s price and rising costs. At press time, bitcoin traded just under $76,000. Public miners have also been selling coins and shifting toward AI. Riot Platforms sold $750 million in bitcoin, Hut 8 sold $250 million, and Keel Infrastructure sold its entire $192 million treasury, according to earlier reporting. Terawulf and IREN have bet on AI as mining revenue shrinks. Politics adds another risk: after the midterm sweep, Democrats are pushing data center limits that could affect miners competing for power.
The next adjustment around Nov. 13 is the near-term test. A strong bitcoin rebound could bring miners back and help difficulty move toward a new high again.
