Bitcoin Mining Profitability Fell in September, Jefferies Says
Summary
Bitcoin mining profitability decreased in September due to a stable average price and a 1.7% increase in network hashrate. Average daily revenue per exahash dropped by 2.6%. October is expected to be more challenging, with BTC prices up 5% but an 11% increase in hashrate offsetting gains. North American mining companies increased their share to 22.2% of the total network, aided by improved uptime from cooler temperatures. Marathon Digital mined the most bitcoin at 705 tokens, followed by CleanSpark with 493. Marathon's hashrate was the largest at 36.9 EH/s, with Riot Platforms second at 28.2 EH/s.
