Bitcoin miners are under renewed pressure after mining difficulty fell more than 20% from its all-time high, the deepest drawdown from a peak since China’s 2021 mining ban, according to Galaxy Research. Live network data places Bitcoin difficulty near 124.93 trillion after the latest adjustment, down from 138.96 trillion before the retarget. The previous adjustment cut difficulty by 10.09%, confirming that a meaningful amount of hashrate had come offline before the network recalibrated.