#数字资产市场动态 Bitcoin mining difficulty surges by 35%. What's really behind this wave?

Since the beginning of the year, on-chain data has shown this number — mining difficulty has increased by 35% in 2025. At first glance, many interpret this as: "Miners are pushing up prices again" or "This must be a bullish signal." But think about it carefully — is this understanding a bit superficial?

The rise in difficulty indeed indicates more computing power is joining the network, which is correct. However, the source of this growth is quite interesting — some of it comes from existing miners expanding capacity and new machines coming online, but a significant part clearly comes from continuous bets by mining pools and large holders. The key point here: they’re not betting on short-term price increases but are using their actions to express confidence in the long-term value of the blockchain network.

This prompts us to reflect on a question:
Relying solely on the increase in difficulty to bet on a market explosion — isn’t that a bit forced? After all, difficulty reflects participation enthusiasm, but what truly influences short-term market movements are capital flows and user activity, which may not always be synchronized.

Deeper down, this change reflects a maturing shift in miner behavior. The market is no longer simply "price goes up, then a mining frenzy follows." More and more participants are willing to invest resources over medium to long-term cycles, which genuinely helps the security of the $BTC network. But does this security voting directly drive the price? Not necessarily in a linear way as one might imagine.

Ultimately, this difficulty increase is more like a vote on Bitcoin’s long-term value — people are voting with their mining rigs and hash power, not just betting on price rises or falls. This reflects a trend: $BTC has evolved beyond just a price story. Its technological foundation and security layer are attracting truly patient, long-term participants.

For us observers, understanding this logic is much more meaningful than just staring at daily candlestick charts.