Bitcoin mining difficulty drops over 10%, reflecting miner stress

Bitcoin's mining difficulty has fallen by more than 10%, reflecting ongoing stress on miners, Unfolded reported. The difficulty dropped by 10.09% to 124.93T at around 12:23 a.m. UTC on June 14. This marks the 11th largest downward adjustment in the network's history. Unfolded attributed the drop to the decline in BTC's price, noting that the current estimated mining cost of approximately $84,000 leaves most operations unprofitable. The next difficulty adjustment is expected in 12 days and 23 hours and is projected to fall by another 0.71%.