The adjustment landed at block top 957600. The problem went from 133.87 trillion to 127.17 trillion, a lower of about 6.70 trillion. The change took impact at 4:09:11 pm, in accordance with the block timestamp. The earlier period lasted roughly 14 days, 18 hours and 9 minutes, longer than bitcoinThe 14-day goal of two,016 blocks. That tempo equates to a mean block time of 10 minutes and 32 seconds, about 5.1% slower than the protocol’s 10-minute purpose. The 5% minimize introduced the community nearer to that purpose once more.
A 12 months outlined by in depth adjustments
Eight of the 14 issue changes thus far in 2026 have been unfavorable and 6 optimistic. The typical adjustment was a unfavorable 0.87%, however the common absolute transfer was 5.30%, a spot that factors to marked back-and-forth exercise hidden behind a moderate-looking common. Aggravated by the difficulties present earlier than the primary adjustment on January 8, the community has fallen by roughly 14.22%. The July 11 studying ranks because the third lowest of the 12 months, solely behind the 124.93 billion on June 13 and the 125.86 billion on February 7.
Hashrate slides in direction of its 2026 vary
The seven-day common hash price through hashrateindex.com stood close to 908 EH/s on July 11, about 14.8% decrease than the January 1 stage of about 1,065 EH/s. That determine is about 21.3% beneath the one-year excessive of 1,154 EH/s reached in October 2025, and simply 3.3% above the 2026 low of 879 EH/s set in early February.
The latest decline got here rapidly. hash price it was close to 986 EH/s on July 1 and fell to roughly 908 EH/s on July 11, a lower of roughly 7.9% in ten days. That pullback slowed block manufacturing and straight fueled the 5% issue minimize.
Hashprice rises however stays with massive reductions
Hashprice, the anticipated revenue miners earn per petahash per second, closed close to $31.1 on July 11. That marks a restoration of about 12.5% from the $27.6 stage seen round July 1, however the metric remains to be down about 16.4% since January 1 and about 37.2% beneath its one-year excessive of $49.4, reached in late October 2025. The 2026 low of $27.2 got here in early June.
How issue, hashrate and hashprice match collectively
Issue is a lagging measure. Doesn’t monitor hash price straight, however reacts to how rapidly the earlier 2,016 blocks had been mined. When hash price drops, the blocks decelerate, and the issue decreases on the subsequent setting. Decrease issue will increase the anticipated income for every unit of hash energy nonetheless operating, which may drive up the hash value if bitcoinThe value and fee revenue stay steady.
The part from June to July reveals the mechanism in movement. Hashprice bottomed close to $27.2 in early June. The problem fell by 10.09% on June 13. Hashrate then returned and the issue elevated by 7.15% on June 26. Hashrate weakened once more and issue fell one other 5% on July 11, with the hash value ending the interval at $31.1.
All three measures have adopted a sample of decrease highs in 2026. The problem peaked at 146.47 trillion on January 8 and has not come shut since, surpassing near 138.97 trillion in April and 133.87 trillion in June. Hashprice peaked at $49.4 in October 2025, then $41.8 in January, after which $39 in Might. Hashrate peaked at 1154 EH/s in October 2025, 1087 EH/s on the finish of February and has struggled to keep up 1000 EH/s since then.
What it means for miners and merchants
Every restoration in hashrate and hashprice has not reached the earlier one. The easing of difficulties has softened the blow for miners nonetheless working, however has not been sufficient to revive the hash value to earlier ranges. For merchants, the sample factors to a mining sector that’s adjusting to tighter margins slightly than a single sustained pullback. Efficient computing energy has repeatedly returned to a band between about 880 and 910 EH/s earlier than recovering, though it’s unclear whether or not that vary marks an enduring flooring or one other cease on the best way down.
