TechFlow news, on November 5, according to CoinDesk, Bitcoin (BTC) mining difficulty hit a record high of 101.65 trillion (T), increasing pressure on small miners. This year, mining difficulty has been adjusted 23 times, with nearly 60% being upward adjustments. Meanwhile, Bitcoin's hash rate (7-day moving average) reached a historic peak of 755 EH/s last week.
High difficulty and high hash rate mean miners need more computing power to earn the same rewards. Compared to publicly traded companies, smaller or private mining firms may face greater financial pressure, forcing them to sell their Bitcoin output to sustain operations. Currently, miners produce an average of 450 Bitcoins per day; if all were sold, it would create approximately $31.5 million in selling pressure.
Notably, in October, miners briefly held back part of their Bitcoin earnings, increasing reserves—an indication that the mining industry's overall condition remains relatively healthy. However, as mining difficulty surpasses the 100T threshold, small-scale miners may encounter tougher operational challenges.
