The Bitcoin blockchain's mining difficulty increased by 13%, but industry experts say operators are still looking at fat profits ahead.
The positive adjustment could be the beginning of a surge in hashrate in the coming year.
"The last four adjustments have been downward, and it now looks like the blockchain is back to normal," one analyst said.
Mining economics have improved significantly, according to one analyst.
Miners who remain operational are likely to become even more profitable over the coming weeks.
Concerns about the extent of the China crackdown have contributed to the past months' decline in bitcoin's price to about $34,200.
This is only the second downward adjustment of 2021, and it marks Bitcoin's largest difficulty correction since Nov. 3, 2020's 16% downturn.
The adjustment, spurred forth by fleets of newly booted ASICs, could be a harbinger of even larger difficulty increases in the coming year.
Mining difficulty passed 20 trillion Saturday morning.
Bitcoin's mining difficulty just recorded its largest percentage decrease since the advent of ASIC mining machines in late 2012.
Bitcoin's mining "difficulty" just fell 6%, giving small-scale miners a reprieve. But this is only a small dip before an even steeper ascent.
Bitcoin mining is set to get easier, as the network undergoes an expected difficulty adjustment on Tuesday – the first since last week's reward halving.
Bitcoin mining difficulty increased to 16.10 trillion (T) on Tuesday, close to the network’s all-time high of 16.55T recorded in March.
A key measure of competition among bitcoin miners has stagnated in the past two weeks as the coronavirus outbreak disrupts economic activity in China.
Bitcoin likely carved out a major price bottom in December, according to a non-price metric, which has proved as a reliable price indicator in the past.