Bitcoin’s mining difficulty dropped 10.09% at block 953,568 on June 14, falling from 138.96 trillion to 124.93 trillion, the lowest level since July 2025 and the second-largest negative adjustment of 2026. The adjustment ranks as the 11th-largest downward move in the network’s history, according to Galaxy Research.

Bitcoin just confirmed its 11th-largest downward difficulty adjustment ever: −10.09% (138.96T to 124.93T) at block 953,568, the 2nd-biggest drop of 2026.

A ~15% June price slide squeezed miner margins. The epoch ran 15.6 days vs the 14-day target as hashrate came offline.

⛏️⛏️ pic.twitter.com/VLTTiGoGFN

— Galaxy Research (@glxyresearch) June 14, 2026

Three forces converged to trigger the drop simultaneously. First, a sharp June price slide squeezed miner margins and forced hashrate offline. Bitcoin fell roughly 15% in June, dropping below $60,000 before recovering above $64,000 on hopes surrounding a potential US-Iran deal. As machines powered down, block production slowed to 15.6 days per epoch against the 14-day target, the condition that triggers a downward retarget.

Second, Texas-based miners added seasonal pressure. June marks the start of the four-coincident-peak season under ERCOT rules, where large power users face financial incentives to curtail load during peak summer intervals that set the following year’s transmission costs. Texas remains one of the largest Bitcoin mining markets in North America, making its seasonal curtailments a meaningful drag on global hashrate.

Third, the continued migration of mining infrastructure toward AI and high-performance computing workloads removed hashrate that may not return. Several publicly listed miners have been unplugging rigs and retrofitting sites for contracted AI and HPC use, removing Bitcoin hashrate even when the underlying power capacity remains fully operational. A partial hashrate recovery in recent days suggests some of the June decline was temporary rather than permanent.

The immediate benefit for surviving miners is mechanical: a 10.09% difficulty drop improves BTC produced per unit of power by about 11%. The drop is the third downward adjustment of more than 5% in 2026, after an 11.16% cut on February 7 and a 7.76% reduction in March, and sits 20% below the network’s November 2025 peak, as the next adjustment is due June 28.

Disclaimer: This article is a news report based on publicly available market data. It does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and readers should conduct their own research before making any investment decisions.