Bitcoin’s post-retarget relief for miners was real, but narrow.

Using a BTC price of $84,751, the completed difficulty increase and the latest gross hashprice is about $40.31 per petahash per second per day. That is roughly 2.65% above the prior modeled baseline.

However, the next difficulty estimate is pointing 2.48% lower. The estimate came after only 14.43% of the new epoch, making it an early signal from slower blocks rather than a result or proof that miners were switching off.

The two readings are compatible. Price had restored a modest amount of gross revenue per unit of computing power after the Sept. 19 retarget. The early block pace showed that the network’s next adjustment remained unsettled.

A Sept. 15 CryptoSlate analysis calculated that BTC would need to reach about $82,877 to neutralize the revenue-per-hash impact of the difficulty increase then forecast for Sept. 19. That was a modeled network threshold, not an industry-wide production cost.

The realized adjustment was less severe than projected. Mempool’s completed difficulty history shows difficulty rose 4.1634% at block 967,680 on Sept. 19, from 127.451 trillion to 132.757 trillion. At press time, CryptoSlate’s Bitcoin market page showed $84,751, which was about 2.26% above the prior model threshold.

Relative to the Sept. 15 model inputs, BTC’s price had risen about 7.07% while realized difficulty increased 4.16%. The price-to-difficulty ratio improved roughly 2.79%. Including the lower recent fee average, theoretical gross hashprice was about 2.65% above the prior baseline.

The hashprice estimate uses the 3.125 BTC subsidy, the observed average fee, the frozen BTC price and the network difficulty. It is a theoretical gross revenue benchmark, not reported realized revenue or profit.