While the price movement raised questions, the network\u2019s hash rate, a key indicator of mining competition and difficulty, showed a subtle increase.<\/p>\n
Despite the mixed price performance, the Bitcoin<\/a><\/strong> network\u2019s hash rate grew modestly. Analysts from JPMorgan noted<\/a><\/strong> that January saw a small uptick in the hash rate, with an increase of 1% bringing it to 785 exahashes per second (EH\/s). At the same time, mining difficulty saw a slight reduction, falling by 2% for the month.<\/p>\n However, the drop in mining difficulty was seen as unusual, as it rarely occurs. Still, analysts pointed out that the current difficulty is 25% higher than it was before the halving event in April 2024.<\/p>