Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies
Summary
Bitcoin mining was more profitable in June than May due to a 2% price increase and a 5% drop in network hashrate. The halving event in April slowed bitcoin supply growth. Jefferies reduced price targets for Marathon Digital and Argo Blockchain, noting miners' pivot to high-performance computing and AI hosting due to declining mining profitability. U.S.-listed mining companies produced a greater share of new bitcoin in June, with Marathon mining the most.
