Bitcoin Mining Hashrate Drops to 1-Year Low; Difficulty Set for 25% Decrease
Concerns about the extent of the China crackdown have contributed to the past months' decline in bitcoin's price to about $34,200.
The positive adjustment could be the beginning of a surge in hashrate in the coming year.
"The last four adjustments have been downward, and it now looks like the blockchain is back to normal," one analyst said.
The Bitcoin blockchain's mining difficulty increased by 13%, but industry experts say operators are still looking at fat profits ahead.
Mining economics have improved significantly, according to one analyst.
Miners who remain operational are likely to become even more profitable over the coming weeks.