Bitcoin

<p>According to a Jefferies research report, the profitability of Bitcoin (BTC) mining fell in September as the network’s hashrate (a measure of computational power) continued to climb while the cryptocurrency’s price stagnated.</p>
<h2 id="bitcoin-mining-profitability-dropped-in-september-jefferies-reports">Bitcoin Mining Profitability Dropped in September, Jefferies Reports</h2>
<p>The report highlighted that daily revenue per exahash fell by 2.6% compared to the previous month, reflecting high competition and stagnant BTC prices.</p>
<h2 id="october-could-be-tougher-for-miners">October Could Be Tougher for Miners</h2>
<p>Jefferies analysts Jonathan Petersen and Joe Dickstein warned that October could bring more challenges for miners. “While BTC prices are up about 5%, the network’s hashrate is up 11%, more than offsetting this gain,” they wrote.</p>
<p>With increasing Hashrate, more computational power is required to earn the same rewards, further squeezing miners' profit margins.</p>
<h2 id="north-american-miners-expand-market-share">North American Miners Expand Market Share</h2>
<p>The report also noted that North American-listed mining companies increased their share of total Bitcoin production in September, rising to 22.2% from 19.9% in August.</p>
<p>This increase was attributed to increased operational uptime as lower temperatures help mining rigs operate more efficiently.</p>
<p>Among the best miners:</p>
<ul>
 <li>Marathon Digital (MARA) made the biggest heist of the month by producing 705 BTC.</li>
 <li>CleanSpark (CLSK) followed suit by mining 493 BTC.</li>
</ul>
<p>Marathon also maintained the largest installed hashrate with 36.9 exahashes per second (EH/s), while Riot Platforms (RIOT) came in second with 28.2 EH/s at the end of September.</p>
<p>*This is not investment advice.</p>
<p><b> Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-btc-mining-profitability-dropped-in-september-according-to-jefferies-research-report-heres-why/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Mining Profitability Dropped in September, According to Jefferies Research Report! Here's Why</a></b></p>

Bitcoin (BTC) Mining Profitability Dropped in September, According to Jefferies Research Report! Here's Why

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