Recently, I've noticed that Bitcoin mining is quite interesting. Last month, the total network hash rate of Bitcoin increased significantly, averaging 1030 EH/s, up over 9% from the previous week. However, the price actually fell by more than 13%, dropping from over $78k to around $68k.

There are several data points from mining companies worth paying attention to. Bitdeer mined 668 Bitcoins in January and now holds a total of 1,530 BTC. Canaan Creative produced 83 BTC in January, and their crypto reserves include 1,778 BTC and 3,951 ETH. Additionally, Canaan recently raised $75.5 million, mainly shifting toward an AI distributed computing platform.

The most interesting development is that Bitcoin mining difficulty experienced its largest single adjustment downward since summer 2021, with the seven-day average hash rate dropping to 990 EH/s at one point. Such adjustments usually indicate the market is rebalancing. It seems the mining industry is undergoing a reshuffle, with big companies expanding their reserves while smaller players might be exiting.