Investment bank Jefferies said in a research note on Wednesday that profits from bitcoin mining in August were much lower than in July. The average bitcoin price fell by more than 4% and the average network hashrate rose by about 2.7%. Affected by this, the average monthly daily income of miners fell by 11.8% from the previous month.
"September will be another difficult month as bitcoin prices remain below $60,000 and network hashrate continues to climb," the analysts wrote. Bitcoin hashrate is representative of industry competition and mining difficulty.
Jefferies: Bitcoin mining profits dropped significantly in August
2024-09-11 09:19:19
Investment banking jay pharry jefferies Wednesday in a research reportdesk3cryptocurrencydesktopCrypto News
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