Investment bank Jefferies: Miners' Bitcoin mining profits in September declined, and October may be even more difficult

ChainCatcher news, according to CoinDesk, research from investment bank Jefferies shows that Bitcoin mining profits declined in September, despite Bitcoin prices remaining relatively stable, while network hash rate increased by about 1.7%. The bank noted that the average daily revenue per Exahash fell by 2.6%.

Additionally, October may be more challenging for miners; although Bitcoin prices rose by about 5%, the network hash rate grew by 11%, further pressuring earnings.

The report also indicated that the share of mining by North American publicly listed companies increased from 19.9% in August to 22.2% in September, with Marathon Digital mining the most Bitcoin at 705 coins, followed by CleanSpark (CLSK), which mined 493 coins.