Bitcoin’s next difficulty adjustment is tracking a 9.55% drop, the second-largest decline this year, after seven-day hashrate fell from roughly 1 ZH/s in late May to around 861 EH/s on June 10. The move should lift BTC output per active hashrate by more than 9% and could pull hashprice back above $30/PH/s/day if BTC and fees hold. This is not just old rigs capitulating: miners are also redirecting power into AI/HPC sites, while Texas 4CP curtailment may be adding temporary hashrate volatility.

TLDR by @Benthic