I just saw that Bitcoin's difficulty shot up to the sky with a 15% jump, the strongest we've seen since 2021. The interesting part is that this happened right as the price is falling, so miners are in a tough spot. Normally, when the price drops, you expect the difficulty to decrease as well, but that’s not what happened this time. The difficulty adjusts every 2016 blocks based on the network's hash power, so this increase means a lot of computational power is coming in. It’s probably due to miners migrating after regulatory changes elsewhere, or simply because they’re betting that the price will recover soon. Anyway, this makes mining Bitcoin much more expensive now. Small miners must be sweating bullets with these numbers.