Gate News reports that on March 18, due to the increase in oil prices caused by Middle East conflicts, Bitcoin hash rate has decreased by approximately 8% over the past week to 920 EH/s. The current Bitcoin price is below $72,000, down about 5% from Monday’s high. The network is expected to undergo roughly an 8% difficulty adjustment, the second largest negative adjustment in the past five years. Previously, in mid-February, Bitcoin also experienced a historic significant difficulty reduction, indicating high volatility in mining activity. Miners are under pressure from increased competition, persistently low transaction fees, and Bitcoin price fluctuations, which compress profit margins. Many publicly listed mining companies are diversifying into AI and high-performance computing, while also increasing Bitcoin sales to sustain operations.
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