Bitcoin mining difficulty has dropped 2.35% over the past two weeks, the second-biggest drop of the year. Mainly during market downturns, mining difficulty tends to drop sharply.
Miners who were no longer able to make a profit or even break even were forced to shut down their equipment, for example, during the coldest days of the 2018 crypto winter, Bitcoin’s mining difficulty plummeted by more than 15% due to an exodus of miners.