The Great Computing Earthquake! Bitcoin mining difficulty has experienced its largest single adjustment since 2021, with a drop of up to 11.16%.\nI smell an extremely strong scent of liquidation, with two very heart-wrenching truths behind it:\n1. The price of cryptocurrency has dropped from a high of $126,000 to below $70,000, a decline of over 45%, which directly pierced the lifeline of many high-cost mining machines, forcing many miners into a situation where they cannot cover their costs and have to shut down.\n2. The extreme cold storm in late January in the United States caused about 200EH/s of computing power across the entire network to instantly come to a halt to ensure power supply for residents.\n\nIn my view, the surrender of miners is often the last piece of the puzzle at the bottom of the cycle. Historical patterns show that when miners, these die-hard bulls, begin to shut down on a large scale and sell off their bleeding chips, we are often not far from the macro iron bottom we have been waiting for.