A recent research report from Jefferies has revealed that Bitcoin (BTC) mining profitability in September has been declining. Although the price of Bitcoin remained stable, the network difficulty (hashrate) increased by about 1.7%.
Analysts Jonathan Petersen and Joe Dickstein of Jefferies say October is likely to be a more challenging month. Because even if the price of Bitcoin rose only 5%, the 11% increase in network difficulty would exceed the price increase.
In addition, registered Bitcoin mining companies in North America saw a larger share of Bitcoin mining in September. It held a 22.2% share of the total network, up from 19.9% in August. This is due to continuous work and cooler weather. Make mining more efficient
Marathon Digital (MARA) was the company that mined the most Bitcoin in September with 705 BTC, followed by CleanSpark (CLSK) with 493 BTC continuing to lead the way in hashrate with the highest hashrate in the industry Exahash per second (EH / s), while Riot Platforms (RIOT) is in second place at 28.2 EH / s.
Jefferies also points out that the US Elections are entering the final period. Whichever side wins There may certainly be policies that are helpful for this industry, especially Bitcoin, in the future.
Source: Coindesk
2024-10-14 15:35:00
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