Wu said that, according to Galaxy Research data, Bitcoin completed its 11th largest mining difficulty adjustment at block height 953,568, with the difficulty decreasing from 138.96T to 124.93T, a drop of 10.09%, making it the second-largest decrease in 2026. Galaxy Research stated that in June, Bitcoin's price fell by about 15%, squeezing miner profit margins, leading to some hash rate going offline, which caused this difficulty cycle to last 15.6 days, longer than the targeted cycle of about 14 days.

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