Bitcoin's mining difficulty has dropped by 7.8% on June 5, 2024, the largest drop since the collapse of FTX in 2022. This could benefit smaller miners and potentially lead to profits for mining farms. One analyst noted that miners' daily revenues have fallen from $78 million pre-halving to $26 million currently. The drop in mining difficulty means a proportional decrease in the network's hashing power, which can favor smaller miners and spell profits for farms that were closed due to being unable to keep up with costs.